It's a nice looking victorian but for some reason he hasn't been able to sell it.

Thanks My very first deal was a Victorian mansion for $30,000 with 100% seller financing and nothing down.

When I started I almost bought an overpriced double in Victorian Village that really would have set me back.

It's a 1000 sq ft, 3 bed, 1 bath victorian duplex built in the 1890's. 

That's the same argument landlords use here to support the conversion of units in old Victorian buildings to per-unit heat (typically electric baseboard) while not bothering to tighten and insulate the building envelope.   

We have a Victorian duplex not far from the legislature here in Fredericton.

Sounds like a Victorian home so might be in a historically district in which case you’ll need the contractor to know how to pull a COA with the IHPC in addition to a notification with the permit office.

Here is one example:I bought a 4 plex out in Spokane WA with seller financing which my daughter nicknamed "The Pink House" (it was an old Victorian house painted pink with green trim).  

I've been looking at this victorian on Loopnet, and to my admittedly untrained eye, it seems like it would bring in some cash flow/break even on three of the units, so I could live for free in the fourth.

> The real question is now what niche and location.Multi-unit in modest income areas of the Bay seem to be the most consistent winners, from the financials, tax returns, operating income portions of appraisals, and so on, that cross my desk.There are of course exceptions to every rule - there are winner SFRs out there, and poorly performing multi-units that are a nightmare to maintain (100 year old Victorians that have been converted to multi unit in Oakland and Alameda LOOK gorgeous, but as an investment... hmmm).