Our county is on the smaller size compared to larger Metros, such as Cook County/Chicago, and is a rather straight forward process when you purchase a building with a Section 8 tenants in place.  

The oil industry tanked and I had a baby on the way.

One of the many reasons that FHA loans aren't all they are cooked up to be when it comes to REI by many on this website-- you identified a few other key differentiators. :)

We basically have been paying a few expenses (mortgage, taxes, oil, startup fees...) and collecting rent.

My family is considering a move to the Lafayette area, so I'm just trying to come up to speed on the area quickly.With the university in town, and having heard a little about the economic depression due to falling oil prices, the place *seems* ripe for a good rental market.  

But I guess you are the guy who brings his own steak to a restaurant and asks how much just to cook and serve it ? 

Look at oil at 150 and gold.  

Estimated monthly expenses:Moorage (rates vary)Electric (rates vary depending on usage)Propane for heat & cooking = $10 - $30Fuel (rates vary depending on usage)Estimated annual expenses:Insurance (rates vary) $100+ per yearHaul out and bottom paint every 1-2 years = $2000 Replace zincs, dive service hull cleaning every 4-6 months = $150-$600Engine maintenance, tune up, oil change = apx $400 (rates vary, required services vary)Registration tabs = $80 - $140Let me know if you need anything else!

What is the useful life of your heating system, and should you change it (for example, converting from oil to gas)?

I checked cook county assessor and treasurer's websites and it's odd enough that the PIN was classified as multi unit (code 211)  and then got changed to single family less than 999 sq (202) around 2019.My questions are:1.