In the past 8 years its had a new roof, two new furnaces​, two new ac units, updated electrical and plumbing​. the insides have nice laminate​ flooring​.

My idea if cap rate is lower and recently filled up is all new mechanicals, roofing, windows, plumbing, electrical, no alligator cracking in the parking lot, newer siding,etc. 

It's amazing how much hand holding is needed also, like they don't see obvious things that need to be done like electrical etc.  

Hi,We recently bought a multi family property in Austin and are looking for recommendations for vendors: general contractor/plumbing/electricity/landscaping and flooring.Also EV charging resources.Thank you!

You will likely have a shared water meter and other potentially shared utilities (gas & electric).

If it takes you a while, you know that many others won't be taking the time/energy to do it!  

If tenants are already paying the electric bill then I would switch to a heat pump or install baseboard or wall heaters. 

The time, energy and money investors spend looking can out weigh any discount.

I would love to get something that has already had the plumbing and electric updated and foundation stabilized.  

Currently the water heater tanks are 13 and 9 years old, I plan to swap out the 13 year old one as at that age it is a time bomb.I pay for the water and the electricity to heat the water.Is it possible to pass some of the electric bill onto the tenants by installing some type of point of use water heater in the individual units (1 bathroom in each unit).I was thinking it might be possible to keep the water heaters at a very low temperature (say warm water, but not hot enough to have a shower for example).