Every day I see ugly paint and light fixtures that prevent a unit from renting resulting in vacancy and lower rents.

Read about them here: http://www.newair.com/articles/oil-filled-heaters/------HEATING, COOLING, AND VENTILATION SYSTEMS.Landlord agrees to maintain heating, cooling and ventilation systems on premises that are provided by Landlord.Tenant agrees to notify Landlord in a timely manner, and in writing, of any problems that arise with these systems.Tenant agrees to keep heating and cooling systems in good working order and to take safety precautions in accordance with their use, following manufacturer and fire department recommendations.a.Natural Gas furnace system:Tenant will not store items in the furnace closet, except for replacement filters.Tenant will allow Landlord to replace furnace filters when Landlord determines it necessary.Tenant agrees not to block air ducts (warm air output and cold air return) and to pay for any damage to the heating system caused by failure to do so.b.Electric baseboard and wall fan heaters:Tenant agrees not to block the heaters, to keep all flammable materials at least one foot from the heating device and to maintain ample air flow around heater.

-HVAC is going to cost tens of thousands if your warehouse has tall ceilings like most do due to the sheer amount of conditioned/heated air distribution and insulation considerations.

Property was newly renovated about three years ago and has central air conditioning.

I need to buy new air conditioning units for my four-plex.

One gives air miles on United  (Costco gives up to 4%, Citi Mastercard 2%, Chase 1%, American Express 1%, etc., etc.).  

While I have all the walls open still, I'd like to put in an air conditioning system/central air type, but there's a boiler---blahhh, hate it so far!

We don't believe there was a leak because 1) our own investigation--including digging to the pipeline--never found anything; and 2) the pipes are only one feet underground, so if 523K gallons of water was coming out somewhere, we think we would've seen a pool of water or some wetness somewhere on the property (there was never any wetness).My research has determined that it's possible the pipes had air in them and that the meter was reading that.

The take away point was that you really only want to buy a fractured condo if 1) you purchase enough units to control the condo association (so they don't decide to go in a direction that hurts you, like preventing rentals in the future) and 2) your goal is to slowly buy more of the units as they become available. 

Hopefully this helps any of you looking at deals as well and maybe prevents one of you from going down a road full of headaches (and sunk money) that I almost went down.Happy to answer any other questions on the deal if there are any.Brad