My concern with older wiring like that isn't just the lack of ground but often there are less circuits and there is a possibility of overloading circuits, generating heat in the wire and causing a fire hazard.

Also has been working perfectly.The Sensi is nice because it doesn't need a C wire if you have A/C and heat.

Call him and discuss your concern about the electricity being off regarding heat in the winter.Better he gets a heads up on in now than in Dec 31 during a snow storm.If it needs to be on, simply ask him to reestablish service (and you double check that it's been done). 

It depends if you have a heating unit that runs off the same freon.

The property is water heated through electricity which the tenants pay for. 

Also, 4440 sq ft is just a lot of space to heat and cool, period.

Most everything in the house is new (plumbing, AC/heat, etc).

Instead, close some doors and re-arrange the air vents will save heating and cooling bills.

Note - I am unfamiliar with HELOC’s and how it affects DTI ratio when purchasing an investment property.Option 2: Sell my primary home and move into a family owned home for free (think 1940’s, no insulation, heated by a wood stove).

Insurance and maintenance will be high as it's commercial (extra maintenance, lighting, heat in the common areas that can't be charged back to individual tenants).