In the past couple years we've installed a new systems in one of our rentals and in our own home. Cost will defineitely vary depending on the quality of the system you want to install. If it's purely for investment, then you probably can get a low end system in the $3K range. If it's for your own home or if you want to market your rental as having an energy efficient system, then $5K will not be enough. It's great to find good local contacts, but you should alwasy shop around and get multiple written quotes form at least three vendors.
The point Zack brings up is a very good one. Bank owned properties are sold as is. I have been in many that have been stripped of anything of value including the entire Air-co system. These properties rarely qualify for special financing, but it is possible to get conventional financing based on the repaired value of the home. The lender will probably want to hold the repair costs in escrow and pay the vendors directly when the work is completed.
If you are up for a challenge, stripped properties can be a great opportunity. I've seen a few stripped golf course homes for going for $100K and needing probably $20 to $25K's worth of work. They'd easily be worth $150K or more when the work was finished.
Weichert, Realtors - Hallmark Properties
It just depends on how efficient you want it to be. Around $3000 to $3500 would be a safe estimate. Keep in mind if you were to pick a system with above average efficiency this number can go much higher.
I do have a great A/C contractor that I have worked with multiple times, feel free to let me know if you would like me to pass along his info to you.
In the meantime, below is the link to some foreclosure homes for sale in 32826 area code:
Hope this helps.
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All the best,
I recommend getting some names from other contracting pros you or neighbors might know. That's how I found him and I don't regret it. The other answer is correct - if you go with a regular company that rolls logo'd trucks, etc. you are definately looking at at least $3k.
It could be 3k to 5k depending on the contractor and model type. I have come across this often and find the best way to get the best price is to get a few quotes. If you wish I can email you the information for the tech I use in my transactions. I have found him to be fair and reliable over the years.