It has a full studio casita out back that will be an LTR.I plan on buying 3 or 4 investment properties this year after I learn more on the co-living marketing and rent collection side of things.

In general, government will set the assessed value lower than market value at reassessment in order to neutralize appeals.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Leveraged houses perform 3x better then the stock market.   

I saw the market going up while renting in the area and didn't want to miss the opportunity.

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

Study the market.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

It's likely you'll be able to raise the rent as well with the upgraded unit and you can look to market it during the time of rehab. 

or market to Lenders for refi's ?