In those 65 years, you are welcome to lease out the building and make improvements (depending on what the ground lease says), and collect revenue.  

I got in the property for $15k down + $10k in improvements for a total of $25k.

If not, are there tips you can share on how to judge how much life is left in your furnace/boiler or central air system?

Purchase @ a discount, improve the property,  then hold.  

South of 95 has a few up and coming spots for sure but there are still some areas that are not seeing much improvement.

We are all from different places and it never hurts to share best practices with each other just to see how we could improve in our daily operations.I know you don't have to do this but I truly appreciate it. 

They wanted us to over-improve for the value of the house.  

Definitely a fixer upper, like $25/foot for interior, exterior, landscaping, asphalt improvement.

After spending over 18 years in the healthcare industry, primarily in Nutrition & Wellness, Quality & Risk Management, Patient Safety and Performance Improvement I've decided to do something a little different.

Here is what we are doing...Re key home to make new tenant keysClean up and shape the landscaping and trim tree in rear of homeRepair exterior wood - Repaint all exterior siding and trim.Repair gate / fence leading into backyardReplace all kitchen cabinets with new cabinets - Paint white, then antiqueNew st steel stove, dishwasher, and vent a hoodNew countertops (kitchen)New wood laminate flooring in 2 living areas and hallway - 1st floorNew tile floor in downstairs bathroomNew vanity and sink in downstairs bathroomTile walls around tub to replace old tub surroundNew brushed nickel light fixtures and fans throughout the homeNew carpet and pad on stairs and upstairs hall and bedroomsNew tile floor in upstairs bathroomNew vanity and sink in upstairs bathroomTile walls around tub to replace old tub surround upstairs bathReplace old / damaged sheetrock where needed (mostly downstairs)Repaint all ceilings throughout homeRepaint all doors and trim throughout the homeRemove all wallpaper and paint all walls standard neutral colorsReplace all interior and exterior doorknobs and looks to new brushed nickel look to match lights and fansReplace all cabinet pulls and knobs with brushed nickel to match door knobs and lights/fansLicenced plumber to repair and service all plumbing fixtures / pipes to ensure no leaksLicensed HVAC technician coming to service and clean the heat and air to ensure it is working property."