@Patrick Philip  Most realtors opinions are **** and they cannot be held accountable legally when you make financial decisions based on their advice.  

Got all the financial data in place.  

All things aside  I want to make the best financial decision and not rely on my emotions. 

The ugly details are where the real learning happens so if you want to know about the deal, agents, contractors, taxes, regulations, contracts, financials, etc., while I go through the process, I’m happy to share my experience.

Can you provide some more insight to the current financials?  

I own the land debt free.Will banks finance these deals if attractive?

I'm getting my financial foundation in order right now, but soon I will be ready.

                     $220 Vacancy/minor repairs/maintenance                    $220 a month for water/sewer/trash/landscape/snow (actual should be way less)                     $1000 debt serviceNET loss of $160 a month      The cash flow is terrible of course, but that is mainly from the outsized taxes which was from what I can tell from tax records an extra school levy, total taxes for 2016 were  $2341 on same valuation.

We bought it at a 7+ cap so sale price was essentially price adjusted for the assumption.I would run two scenarios get the actually yield maintenance $ amount and add it to the purchase price and see what your model looks like after placing new debt and what your model looks like if the lender will give you a supplemental.What's your exit strategy and timeline?

I know the general principle is to refinance the property and pull out the cash to pay off any debt (Hard money lender, rehab costs, etc...).