Hi Jake,I use a thermostat from Chicago Controls that keeps the heat set at 68 degrees.  

I also find that tenants who are busy do not mind the electric heat because it is zoned and heats up relatively fast. 

Since owning the home we have a installed a new roof, and downstairs heating/cooling system, as well as repainted, fixed cracks.  

Particularly as back-yard dwellings, these will likely inspire some heated discussions at city council meetings!

If you want to focus on Buy-and-Hold and your goal is to build cash flow......I suggest looking at markets where Turnkey operations are heating up.You want low purchase prices and relatively high rental income (another words, high rent to purchase price ratios).  

I like your ideas of turning up the heat a little (especially if the tenant is paying for the utilities) and installing a low flow shower head. 

However there's only 1 water heater and 1 furnace to heat the water and radiators (its an older rental).

Heated floors, USB outlets, special features in the kitchen?

Easy to get caught up in the heat of the bidding and overpay.  

If it's worth $790 for the piece of mind that you won't have to worry about shelling out thousands of dollars for a new A/C unit or heating system then you should do it.Best of luck!