It was the $65/mo for electric that stuck out to me.

Does each unit have separate electric meters that tenants pay?

The lease states as a landlord I am responsible for big ticket items including specifically electrical systems, yet appliances are as is and responsibility of the renter.

A 9,000 BTU heat pump and a few LED lights don't cost a lot but the fixed costs of an electrical account do.

But they save on energy (electric & heats) and the actual cost of materials.

I need an objective view :D Income and Expense Statement 2008 Total from rents $45,118.40 Expenses: Mortgage=$3,261.52 Homeowners Insurance: $4,200.00 Electric Bill: $267.08 Water and Swear Bill: $2,456.00 Heating Oil: Oil City: $2,185.20 Its a 5 unit building coded as an apartment.

(cosmetic such as flooring, drywall, paint, fixtures or major such as tarring out a wall, adding a bathroom, redoing electric)What year was the house built?

No Heat, No water/flooding, fire/smells that could mean burning/gas/electrical issue. 

We went 10k over asking and then asked them to cover the closing costs and a 3.5k check to the electrician of my choice for an electrical panel upgrade.

Moderate rehab on the whole house, Roof, kitchen, bathroom, floors, ceiling, walls, electrical, and plumbing.