I would call it a lower Class B, well maintained property.

A spacious, well-maintained house in a good location in my city is in the 500-900K+ range, and there are reasons for that disparity.

You have to maintain corporate formalities like annual business meetings, not commingling money, don't under capitalize, etc. 

In order to maintain privacy, we do not want to use our personal address for our business entity, and the address may change.  

My clients have told me that my fee to file the 990-T plus the annual cost to maintain the account is still a better deal than the hedge fund managers that were siphoning off fees, many of which were barely or insufficiently disclosed.I see returns in the 8-11% range now, just like with my other real estate holdings. 

With the acquired info I can budget in order to fix deferred maintainence or any problems immediately as well as know what may be around the bend. 

This still falls in line with what I said about paying a contractor AFTER the work is completed because you would be paying him AFTER he walked the properties to give you an evaluation.However, I maintain that paying labor upfront is just foolish....for anything! 

Only one heater to maintain might be a plus although boilers cost a lot more to replace.I hope to view the property in the next day or two.I am aware that I will need a commercial loan due to the five units.Pete M.

While technically the owner of the property if to maintain the deposit(in most states), many Property Managers have been burned by lawsuits when the owner fails to account for the deposit upon move out or more often foreclosures. 

I have a much larger commercial line of credit currently in process and all I had to send was a personal balance sheet (which I maintain each month), latest tax return, property P&Ls (which took me five minutes to run from Xero), and a rent roll from the property manager.