Hi everybody, I recently purchased a home with electric hot water baseboard heat with an arv of $140,000 and was wondering if I should replace it with a natural gas or oil furnace? 

Purchase Price: $65,000Projected Repairs: $80,000Projected ARV: $225k - $240kRight now I am finalizing our budget numbers on this one but the scope of work needed on this is as follows:- New siding- New plumbing & electrical wiring- New Roof (30 year composition) - New Front Porch & Portico- Replace rotted wood on small addition for the hot water heater- New Site Built Cabinetry and Extensive Crown Molding trim & builts- Open the Dining, Living & Kitchen walls to one another (Open Concept)- Increase the Living Room ceiling height to 9.5 feet- Sand & Stain floors- Replace (1) window (Amazing enough ALL the windows are in STELLAR condition!)

Jay,I'm a hot sauce collector but I would love to see your secret sauce if you're willing to share!

Over there the building code requires you to "hot mop" it with liquid tar.    

     - Pour a mixture of baking soda and vinegar down the drain, followed by hot water.   

You can still do well on a hot town, but if you find the next soon-to-be hot town by tracking the hot ones, you will make more money.

Not nearly as hot a market but it should move fairly quickly.

Seek a software too that will help me identify hot areas in any state I should be buying 2-4 properties. 

Of course there are other expenses like pest control, etc but as far as things that would normally be repair/maintenance, like plumbing parts to replace a leaking hot water heater hose, are now capex because they are part of a brand new hot water heater install or a bathroom remodel?

I have 15 private offices and a 900 sqft hall for hot desking.