After graduating from Kent State University with a degree in business I started working in the family business immediately.

Lancaster is easier than Malibu).Even city, your mileage will vary depending on which district you're in.

Come winter time, we have a feeling the house could be 80 degrees if tenants don't have to pay for it.

I would recommend checking out such an organization in your area.... if they are active there, they are at least interested to a degree in working with investors.Dan Dietz

Ditto for reducing Police or Education expenses to the degree necessary to effect real change.Here's a link from DNA Chicago specifically discussing how the property tax increase will gentrification in these neighborhoods.  

Many will argue that hydronic gives a "nicer heat" because it does not dry the house to the degree a forced air system does.Most hydronic systems found in houses use baseboard or radiators  which suffer from the same problem as any form of convection heat - slow recovery time.  

You will then obviously have to add additional costs, such as title search fees, title premium (which will vary depending on the cost of the property), recording charges, plus any loan fees (and escrows) depending on whether you are financing the transaction or not.  

People don't just stop paying rent to the degree that a 50, 100, or 200 unit property won't cash flow (if purchased and financed right.

I've found that the Trulia heat map is pretty good in our markets, Indianapolis and Kansas City, but it's usefulness varies by market.

I have looked up rental rates and found a good price point to offer the 2 rooms, especially since they are varying in size.