@Ray Trounday To get IRR, use the XIRR function in excel.

Looking at properties, networking (going to functions, volunteering, working open houses for agents who are busy, manning the agency's phones etc) left little time for the wife and my young son. 

The bedrooms are small and the 3rd or 4th bedroom wouldn't function as a bedroom in a room for rent scenario.

@Erin M.You could perform basic administrative functions such as paying bills, selecting contractor, arranging repairs, etc. 

Right now owner pay for heating cost but if I buy it I will divide cost and have tenants pay their share.Kitchen and bathroom are functioning but old.

If a kitchen is a little old but functional it will not return as much on rehab as a property that has a destroyed kitchen (cabinets busted, counter burned or broken, floor in real bad shape). 

I know functional items needed. 

Meaning, you will have gaps and compression points that defeat the attractiveness and functionality of the flooring. 

If not separate for electric also contact Xcel for electric costsHave a boiler company inspect boiler before you buy.. make sure it's running and all radiator are functioning properly. or baseboard what ever type it has.From the costs you should be able to gather the average for utility costs,, if it were me I'd average it out and check what is expected for utility cost increases,, google that.. and you'll have what you need to be able to add the costs to the rent base..Not such a bad thing ,, we operated a 6 plex , a 5 plex and all utilizes were included in rent.. we kept boiler at set temp all winter, had boiler guy set up a thermostat we controlled.. in boiler room only we had access to.Just realize all HUGE buildings like 12 units to 100 units rarely have separate meters for anything,, owners pay heat, water and electric.. so it can be done.. 

(Use the search function above to find many threads, by clicking on the little magnifying glass).Just so you know, "$100k equity" can be enough, or not enough, depending on its PROPORTION.eg.