Massachusetts - Buy and Hold - Heating with Gas Stove - alternatives and venting?

[Lisa Gorman]

I am new to the site and have been looking around at small multi-families to rent out in locations within an hour drive from Boston (I will not be living in any of the units).  I looked at a 3 unit property today; units are as follows:

• 1st is a 2 story small house (3BR/1BA) (I might post some specific questions related to this one in a separate post)
• 2 others are attached to the house and are each small 1 BR/1BA - layout reminds me a little of an old school motel)
• all need various levels of work 
• It is a good neighborhood with strong rentals so I am interested in pursuing this one a little more and see if the numbers will work

I am working through the numbers now but am not sure how to estimate/approach the two 1 BRs because neither of them have "traditional heat".  Apparently they are both heated via large gas stoves in the kitchen (i.e. the stoves are old fashioned and are supposed to be used for cooking and heating).  One stove/oven looks like it might work; the other looks like it might need to be replaced.  So, questions are:

• Does anyone have experience with this type of heating in a rental unit? Any issues/concerns?
• Would it be wise to replace these ovens with "regular" ovens and find a different way to heat the units?
• This is a  free-standing unvented gas stove.  From personal experience, when I tried to replace my free-standing stove, Lowes said it was going to be a problem because there was no way to vent it (similar to these units, the stove is not on an exterior wall).  Anyone have any experience/recommendations on venting?

The purpose of these questions is to be able to estimate how much $$$ I am going to need to put into these units prior to them being rental ready to understand if the numbers would work/what offer I would have to make.  Any sort of cost estimates would be greatly appreciated (I fully understand it depends on contractors, etc.  - I just need to know what ballpark I would be playing in).

Thanks in advance for any advice.

Lisa