Who pays heat?

Duplex (2 on a lot) 3/1 House built in 1900 with large kitchen, finished basementBack unit built 1998, modern 1/1 open floor plan with radiant heat, heated 2 car shop/garageAsking price: $299kOffer of $225k max, owner carry with $15-18k down, 3-4 year carry amortized over 30, refi into conventional.Potential rents: $2300 mo (ballpark low market): 1400/900.

You can buy new burner-pans & even elements on amazon, & all a tenant really wants is *clean* & functional.

How difficult would it be to separate the boiler into different zones so the tenants pay the heat?

I'm calling it tricked out, but it really is about as nice as you could make an 1131 square foot 3/2 1960s box without adding on or changing any architectural elements.

Give him a 90 day note, going 6 months he may lag behind thinking he has time, perhaps time is not really of the essence, he'll end up in putting it on the market in January or February and your market may not heat up until April.In other words, you need to know your local market, the scope of work, the time really required, the borrower's work load, his abilities and past performance.

What I'm truly surprised by are all the commonsense elements of networking that are completely lost on people.

Great carpet, new heat, air, windows, even was newly painted, this home is nice.

If any property rents for more that above quote numbers the odds are as soon as it gets colder and they have to pay the $200 heating bill on another cousin dies (which happens every month) you will not get the full rent amount or any rent at all.The numbers can still work well if you don't ask for top dollar rent and it will be more sustainable as the tenants will likely stay longer and you wont have risk of break in while the property is vacant.Thanks for reading.

To save on costs we keep the heat down around 63 most of the time.