Please help me analyze this deal

[Mayer M.]

Hey Guys! I am planning to buy the below property cash and immediately turn around and do a cash out refinance to get 100% of my money back. Can some of you pros help me analyze this deal? Year Built: 1960 Roof was replaced in 3 stages. Upper main roof first half replaced 8 years ago, second half replaced last year, and lower roof was replaced last month. 4 Separate Crown Aruba Gas Boilers, regularly serviced and approximately 20 years old.  4 Separate Gas hot water heater (ages vary) Washer Dryer hookups available in basement for coin laundry for additional income Exterior painted two years ago Shingle siding Property just passed state inspection Replacement energy efficient windows Purchase Price: $210k Appraised Value: $285k Property Type: Quadplex/Turnkey tenants in place Area: B Units: 1-3BR, 3-1BR Rental Income: $3365 Per Month / $40,380 per year (rents can be raised 5% upon lease renewals) Utilities: Separately metered, each tenant pays their own gas and electric House Utilities: Common area utilities are about $20.00 per month Water/Sewer: Landlord pays $1500 per year Property Taxes: $7855 per year Insurance: $2500 per year Landscaping/Snow removal: $1221.00 Vacancy: ??? CapEx: ??? Capital Improvements: ??? Can you help me out with analyzing this deal? The plan is buy cash and immediately cash out refi to get 100% of capital back. Thanks!!!!