It has 4 separate units on it and currently is producing $2500 a month.

However, their income-producing aspect pretty much over-rides Shiller's other points.The game is changing even as you read this.

Maybe that will bring other enforcement agencies into the fray and and produce a more permanent result than the "squeaky wheel" approach might.My $0.02...David J Dachtera

So I just purchased a 3 unit property that produces 3,300 a month.

Now you did not say whether these are income producing homes, but that would come into play during the due diligence from the bank.We were able to secure a HELOC on our properties in an LLC, but we had to personally sign using our W-2 incomes and personal credit, I'm not sure if that would have been possible for us with only a part time income from W-2.You also may consider some local banks. 

The people that setup a mail or lead funnel that doesn't rely on the market to produce homes is what can be best. 

So to base your numbers on anything but what the property is actually producing is not a good investment strategy.

Because the property is in pretty good shape, albeit with older appliances/finishes there might be a possibility that in a year or so, some upgrades could produce a small profit if the trend continues with rising property values as it has in the Denver area for the past few years.  

Landlording is one of the best ways to produce residual income.

I've met some folks that did it by just the relationship with the Portfolio Lender and the income producing properties.