Quote from @Louis Hamilton: The property is worth around 800,000 and has no mortgage on it.

I agree in doing a cash out refi.

Raising capital thru syndication is a lot more realistic if the sponsor has a significant amount of their own cash to invest.  

Quote from @Alex Clark: Looking to buy a property in OhioCleveland has a lot of areas that are great for cash flow 

Are they worth it?

Or someone went camping and got rained out and had to put everything in the dryer when they got home.There are some really cheap motion sensing cameras these days- it might be worth setting that up.

If you want to put down a low down payment, you might not cash flow for a few years.And FHA for 3-4 units is almost impossible.

That looks pretty bad for your cash flow.

If maintaining cash flow is your primary objective, you might want to explore other options.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.