We generally heavily advise against condos as investment properties with a few exceptions...If you already own it then it can potentially make sense to hang onto it as a rental. 

ROE is like ROI except that we divide by equity in the property versus initial investment. 

Every problem except location has a price tag to fix, so there is a number that will work for this property. 

I need to study the details to see whether there are exceptions.

True 179, 199a, bonus depreciation sound complicated but not really.This new book covers all topics except creative tax strategies like in service date tweaks.

So, until someone has proven they were willing buy someprice for something, it has no value, except ....to the current owner.   

In my last post I discussed using Fannie Mae's delayed financing exception to allow for pulling the cash back out before the typical 6 month seasoning period, and in the comments @Steve C. led me to a post outlining a different approach using a LLC-to-personal loan (see https://www.biggerpockets.com/forums/48/topics/460294-how-to-cash-out-1-4-unit-property).

There are a lot of moving parts and a good agent really adds value (and generally they are paid by seller except in some high priced areas) 

As long as this is practice the numbers look good except the interest still looks low for a non owner occupied loan.

But, there are "sophisticated" investor exceptions within 506b.If you attempt to take part in a 506c offering, the sponsor will require verification of your status.