Boiler, Roof, Plumbing, electrical etc?

My home has new electrical, A/C, plumbing, windows, doors and kitchen.

It is also a 4 family.Over the years I have upgraded almost everything - new windows, new electrical service, seperated an old steam fired boiler to 4 seperate heating units for each apt., new roof ETC...Long as the house has "good Bones" which hopefully your SE can see by the basement and or looking at the house in detail and you are getting it for a good price I wouldn't let the age scare me.Has the plumbing been upgraded?

Some experts here say instead of 8 months of rent you need to use only 6 months of rent for annual cash flow, to account for all the structural repairs: new roof, new sewer pipe, many plumbing heating electrical problems these older cheap houses have.I don't see where the business model of cheap houses out performs more expensive houses in best high school districts in the first place let alone a break even year vs better school district houses.

I was going to remove it and put in a wall mounted long rectangle electric fireplace that was about 70in long with a flat screen tv above it.

We fixed the foundation, new electrical and plumbing, walls and layout were adjusted, new kitchen and baths, new roof, siding, and landscaping.

After running the numbers and doing some pretty thorough research, this property appears to be a cash cow except for one little problem... there is only one gas meter, one electric meter and one water meter - i.e. - ALL of the utilities are paid by the landlord (which basically kills 80% of the net profit each year).Looking at each of the utilities - gas is by far the most expensive one.

If you do too much then you might trigger a code upgrade of other systems, ie, electrical, plumbing (if you add a master bath).  

The additional energy savings would pay for finishing the basement in 4 - 6 years.Needless to say, I was ignored and it wasn't until the electrical bill came the second January in the house that there was an admission they perhaps should have listed. :-)So far attitudes are such that we cannon demand higher rent for our buildings that have undergone a deep energy retrofit, but we are noticing that turnover is down.  

Water, gas for heat, gas for cooking, gas for hot water heater, same for electric etc.