And the overhead with radiator heat (i.e. no way to regulate zones in a 4,000 sq ft converted mansion of 12-14 units) would be enough to ruin most people after a winter like the one we just had. 

His own house is absolute squaller and he doesn't even have an AC in the overbearing Miami heat.I'd also like to mention that he is a lovely, honest and extremely moral human being. 

Also, do the upstairs bedrooms have a heating source (vents or baseboard heaters in each room)? 

Heating and Air Condition (do they work well, energy efficient, type) Noise between units.

Places such as Orlando, Houston, Memphis, Miami are just some examples of where they invest in now too.

Listed Price: $294,000Unit Rents according to seller (factoring heat/hot water paid by landlord):1BR (3rd floor) - $7502BR (1st floor) - $1,1503BR (2nd floor) - $1,250Total: $3,150Annual taxes: $3,778Annual insurance (estimated): $1,600Annual utilities (estimated): $3,600Annual maintenance: currently unknownEstimated mortgage: (Assumed paying the listed price, with 0% down VA Loan)$294,000 @ 4% 30 years, $1,404This would be my first real estate purchase.

NA $164.00 $226.00 $228.00 $182.00 Property Type Single Family/Gambrel NA Single Family Single Family/Ranch Single Family Single Family Bedrooms 3.0 NA 3.0 3.0 4.0 4.0 Bathrooms 2.0 NA 1.0 1.0 1.0 2.0 Total Rooms 6.0 NA 6.0 6.0 8.0 9.0 Living Space 1,826 NA 1,738 1,668 1,835 2,552 Lot Size 0.456 NA 0.354 0.350 1.150 0.603 Central Air No NA No NA NA NA Heat Type Oil Forced HW NA Oil Forced HW Oil Forced Hot Air Oil Forced HW NA Roof Type Asphalt NA Asphalt Asphalt Asphalt Asphalt Siding Vinyl Siding NA Vinyl NA Vinyl Wood Built In 1923 NA 1850 1953 1910 1830 Fireplaces 1 NA 0 1 2 Garage 575 NA No NA No 0 Pool 0 NA $0 0 0 512 Shed 90 NA 10 x 12 0 48 592 Patio 0 NA 10 x 10 0 0 0 Barn 0 NA $0 0 0 1,100 Carport 0 NA $0 0 0 10 x 22 Shop Loft 0 NA $0 0 0 336

I assumed 5k in repairs rolled into the loan as well.Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $60.12 Taxes $76.00 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- Cap Ex and Ops $150.00 Insurance $75.00 Mgmt Fee $62.50 Vacancy $50.00 Total Expenses $473.62 Total Revenue $625.00Cashflow/month $151.38Cash on Cash Return 21.89%

The heated square footage is 3384sqft and includes 6 bedrooms, 4.5 bathrooms, and 8 separate fireplaces!

"Maintain in good and safe working order and promptly repair all electrical, plumbing, sanitary, heating, ventilating, air conditioning, and other facilities and appliances supplied or required to be supplied by the landlord provided that notification of needed repairs is made to the landlord in writing by the tenant..."