Jay's comment at the start of this thread is the most succinct and accurate assessment of D class properties you can make: 80-90% of investors will fail.I bought, self-managed, and leased out dozens of D-class doors in Hartford, CT for 4 years after the peak of the last real estate crash (2008ish) while working a full time job.

If you are comfortable, have the experience, and have accurately run the numbers, I'd say this could be a solid deal. 

Some of the help offered here is accurate and some of the help offered is a bit offFor most cash out refinance loans on investment properties the Max leverage offered is 75% LTV (You may find 80% but that really isn't industry standard) Which at a 250k "As is" value your max loan amount would be $187,500.00 If you purchased the property for 165k and renovated it for 30k you are all in for 195k Since I am assuming the property is owned free and clear the $187,500 (minus closing costs let's call it 5% of the loan amount) can be used to pay down your debt.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Having a system tailored to real estate investing and doing everything I would want a bookkeeping system to do has made the financial information I have much more accurate and timely.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Make sure that you understand the terms of the loan, and that the loan documents are accurate.

Either way, for THREE units, $1,231.20 seems far too low to accurately reflect your annual repair and maintenance expenses.3.

I assume (a risk, I know) that the original poster is referring to conditions at a parcel of real estate and the improvements thereon, and the ownership of the subject real estate is held by a land trust, probably an Illinois land trust (which is a specific type of trust, not one limited to real estate in Illinois or which itself is located in Illinois), and the poster assumed that his ownership interest was sheltered, or his liability limited.Are those assumptions accurate?

I was able to take their feedback and make my listing more accurate.