To further this topic, do you use the 2.5x and 3x as blanket criteria for C and B class neighborhoods or do you also consider sub-communities (e.g a nicer complex in a C area or a more run down in a B area)?

I have run into a problem with a cash out refinance on a rental property.  

I know things may vary a little state by state.Secondly, if we do buy the home in our personal names and never transfer it to the LLC, we can still run the rental payments through the LLC.

Only 2 have moved from Active to UnderContract/Pending since Sunday.There is not a run on the market.

I’d appreciate some advice on determining an amount for monthly rent when running the numbers on a deal.

At the moment there are no roads, electricity, or running water to the property.

I’m keeping an eye on things in Cleveland, and may have a few ideas to run by you in the future.

Run a couple scenarios, and if knocking down the house and rebuilding is the most profitable (with an acceptable level of risk), go for it.As for knocking it down yourself, if you have to ask, you probably shouldn't

I am a real estate agent in the area and would be happy to run comps and give you a second opinion of what the value of the condo is at right now.

I don't know of too many commercial lenders that will accept a 28% operating budget for all expenses, they will probably run their debt-coverage test at their pro forma operating expense numbers instead.