I love the efficiency and energy savings of a dual propane and heat pump system, but since I would like to keep the tenants paying the heating bill, I don’t think it would get me any additional rent to justify the cost.The plan as of right now will be to test the units at inspection and hope they will last through the winter.  4 of 6 units have had tenants in them for many years, so I think its safe to assume that they had heat last winter, and I will be dropping by to ask.  

PLUS you get hit with an additional 10% penalty.So say you were in the 25% tax bracket, you pull out $100K, they take out 25K for taxes+10K for the penalty. 

Next year they are launching a ferry service into NYC for commuters in addition to the bus services.

Like I said if you so not stand to lose or suffer what's the harm in giving them an additional month?

Additionally, if you really want to find a deal this way you'll need to keep on marketing to these people.

These are professionals with additional training and a stricter code of ethics.

These are professionals with additional training and a stricter code of ethics.

In addition, they have always paid my $50 late fee, which compensates me for allowing this behavior temporarily.

Your equity is reducing your possible returns not increasing your cash flow.If your father has no use for additional income he could leave it where it is and not care if it is impacted in a market shift or he could pull it out and invest in a income fund or a REIT. 

The below link takes you to a BP post that provides some additional information on this: https://www.biggerpockets.com/forums/93/topics/493...