I have always loved working with my hands and I am looking to gain financial independence by byielding my assests, and real estate renting seems like an awesome environment to do both.

Here are the numbers: sixplex in hickory NC Price: $160,000Gross monthly Rents: $3,050 (definite possibility to raise rents by about $25-50 each) Expenses: (50% rule for now): 1,525 NOI: 1,525Cap: 9.5%Debt service: 25% down, financing 120k @ 6% amortized over 20 years, with a 10 year balloon. $860/month Net monthly profit: $665Cash on Cash: 19.95%Any thoughts on this deal?

Then, rinse and repeat.There's no reason you can't be financial free in under 2 years!

@Luis Roel yes i do have an LLC and I agree, hard money, even if I took a larger amount, to me is something that doesn't seem appealing due to the high rates You have some psychological fear of debt....There is actually good debt and bad debt.  

Hire an attorney and structure it as a debt transfer (assignment of assets).

@Daniel DietzYour analysis is in the right direction, but not quite there.1) Determine the debt financing ratio - in this case .602) 60% of the gross income is then looked at by UDFI3) 60% of all deductible expenses are applied, so 60% of straight-line depreciation, 60% of the interest on the note, 60% of property taxes, etc.4) $1000 exemption applies5) The net amount after deductions and exemptions is then taxable to the IRA, and the trust tax table is used to determine the tax amount.Even if you have a negative UDFI liability, it can be worth filing the 990-T in case you can carry that loss forward to future years.We have a UDFI calculator on our website and if you PM me, I can send a link to you (BP does not want me posting that outside content on their forums).

I am very reluctant to utilize the financial information provided on the loopnet properties.

There is a 12M funding coming in w/ new equity partners in 2 months which pays off all outstanding debt. 

I've always dreamt about being financially free and I knew I could become wealthy one day.

Although, I make good cash flow, with my recurring monthly mortgage debt and my other expenses.