Some examples of properties with high asset reclassification include medical clinics and hospitals with technical machinery and labs, grocery stores with machinery, shopping centers with rainwater drainage systems and large parking areas, industrial manufacturing facilities with advanced equipment, apartment buildings in suburban areas with swimming pools, golf courses, tennis courts and large parking areas for tenants.Here’s a list of the average amount of assets that can be reclassified into shorter asset life classes based upon the type of property.

It doesn't mean that every property will fit that rule of thumb. 

Of course, in hindsight with what the market has done, I wish I'd gone full steam ahead, but in the moment I was playing it cautious.I'm also looking for income to quit my W2. 

@Joy McQueary of course I am partial to the KC metro.

@Matt Devincenzo posted while I was posting and of course adds good points.

Of course it's possible.

Of course, everyone gets to set their expectations.

In our limited experience being on our own, finding the deal of course is the hardest part and is definitely a “it’s who you know” kind of deal.

If you choose not to show up, he would almost certainly be awarded a judgement.Of course, you could choose not to pay the judgement, but then he can send it to a collections agency and your credit score will be trashed.I don't see a scenario here where you get through this cleanly.  

Yes, most large traditional lenders only focus on 1-4 units and other properties that fit into a box.