Currently about $27K.

If you are purchasing a primary home, income could be a challenge if you work at an office.

When I spoke with a real estate professional, she said the home would probably sell for around $250k in its current condition.

Current asking rent is $2675 per month. 

If you are looking at this property from a residential and rental perspective, then it may work as long as you are willing to put your own income into the property. 

Loopnet has some comp information, but requires a paid (and not cheap) account to see it.Commercial properties are generally valued based on income, not comps per se. 

Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

That said, even with conservative rental income estimates, my living expenses would eventually drop to several hundred dollars less than what I’m currently paying in rent once the house hack starts generating income.I do have cash reserves to weather some rough patches, but the idea of pushing my budget this hard makes me uneasy.

Quote from @Diyan Yap: Have you thought about AirBnB, they can visit/stay with you while they rent it and earn income.