Are the changing the heat from Oil to Gas or leaving it?  

The property needed a new roof, new siding, paint everywhere, updates to kitchen and bath as well as mechanical electrical, heating and plumbing updates and there was possible freeze damage. 

I have seen some threads on here get heated...glad there was none of that here. 

Single family and multi-unit rentals are all the craze out here right now and the fix n flip market is starting to heat back up (so long as you get in at the right price point obviously). 

Landlords almost always try to replace one industry tenant with another so the possible competition should be a potential concern to you.Con : You may have to become a handyman or deal with various ownership issues like heating, ventilation, and air conditioning (HVAC) units, building maintenance, etc., that otherwise a landlord would have taken care of for you.

Thanks, I had reservations about it but with the market heating up I was going to really cover the nearby counties.

He did say there were tenants and I'll ask him if he at least knows how many tenants he has and what his vacancy rate is/was when he was active in the business.

UNLESS there is a dryer duct, stove duct, heat duct, or even furnace exhaust running through a joist cavity that is very drafty to the exterior.

For instance, if tenants are paying for electricity and heat you may want to consider a higher multiplier, say 120X.

I have been a fluid reader for months for this forum and I have just made an account today to be able to contribute more to this fantastic community!