First Income producing property deal completed

[Todd Willhoite]

I just completed my first income producing property deal.  Purchased a 2 bedroom 1 bath 716 sq ft property in a C class neighborhood.  Here are the numbers:

$30,000 purchase price

$1,353 closing costs

$3,400 repairs

Total In $34,753.00

Insurance is $582 a year.  Taxes are $523 a year.

Rented it last week for $650 per month, tenant pays all utilities and lawn care.

Paid all cash.  Tax assessor has it assessed at $51,000.00. 

If I wait about six months then could I get a loan for what I have in it if it appraises as high as the tax assessor thinks it is worth?  Any suggestions or comments?