Looking to start my long distance investing with the BRRRR method or simply buy and hold for single family or small multifamily (2-4) under 250k.Wondering what cities are looking good out there for low median home pri...

We’re evaluating a property that is a legal 2-unit with an in-law suite and would appreciate feedback from those who’ve dealt with similar setups.Current conditions:Legal 2 units + finished in-law suiteOnly 2 gas meters currentlyIn-law ceiling height is approx. 6’2”In-law already has a kitchen, bathroom, and bedroomNo dedicated heating or cooling for the in-law unit at the momentWhat we’re considering:Installing central air / HVAC for all 3 unitsPotentially adding a 3rd gas meterLooking for insight on:Code and permitting considerations (especially around ceiling height)Pros/cons of tying the in-law into shared HVAC vs separate systemsWhether adding a 3rd gas meter is typically worth it (cost vs rentability/value)Red flags you’ve run into with in-law units from a resale, appraisal, or inspection standpointWould love to hear from anyone who’s rehabbed, owned, or sold properties with in-law units — especially in older buildings.Thanks in advance.

Sometimes the issue isn't tank size but heat loss in the lines.

Heat was off and Chicago area had sub zero temperatures and it just started thawing that week. 

Heat tap works pretty well....The P-trap is a very very easy thing to forget can be an issue. 

@Jules Aton  depends where the pipes are.It is outside wall and under the house pipes most at risk and if you think you might have an outage set the heat up a little so it will take longer to cool to freezing temps.

So total monthly revenue on full occupancy is $4,125/mth or $49,500 annually.Current occupancy 4/5 units with a total monthly income of $3,075/mthSelling price: $280KRehab cost: $20KARV: $300KClosing costs: $5K Loan cost: $10K, amortizedDown payment: $80KLoan: $200K, 30 yr fixed @ 7.15% APR, paying $1,418/ mth or $17,652 annuallyTotal capital invested: $105K (down payment + rehab + closing).Annual tax: $3,400 annuallyMgmt: $150/mth, $1,800 annuallyInsurance: $1,360 annuallyUtilities (water + heat): $700/mth (tenant pays electric), $8,400 annuallyExpected maintenance: $400/mth, $4,800 annuallyVacancy: 7% = $3,465 annuallyNOI (after paying the monthly debt payment): $8,623 ($718.5 / mth)Cash on cash = 8.21%How would you rate this investment opportunity?

Get a few more opinions on that heat exchanger.

Hooting and hollering suddenly claiming no heat at the apartment (its been single digit temps for a week already). 

**HVAC** - Most pre-1950 homes were radiator heat.