I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?

although we bought about 6 years ago or so for 270 put 100k into it so you can do the math  no debt .. hoa 400  we pay utls. 200 or so.. so 600 a month out of the 3500.. tax's about 1500 a year ( got to love Vegas taxs ) value today right at 600k.. so lets say we net about 33k a year on 370k cash .. so not bad little under 10% COC with an outstanding tenant one of the best I have ever had.PS given tenant quality we manage ourselves.. 

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

Properties are valued at, and appraise for whatever the fair market value is.Most of our properties are priced at or slightly below their fair market value in today market climate.

If you want to swing for the fences, that 3 yr, value-add deal with floating rate debt may be the right fit.  

We are chasing add value apartment complexes of 32 units or more, priced between 3.2M - 4.8M, purchasing all cash while using SOFR or Fannie as contingencies, targeting a 6-8% cap upon entry and want to operate sub 5% for stabilization.

We are asking the current tenants to leave as the property is not in optimal condition we like to have our rentals and we would like to fix it up to increase value and rents.

If you can find comps that support a lower assessed value, it's worth trying to appeal.

If I sold, I think it would be by a hair that I can offload the property for the balance despite a tax value of $440,000, but it would get it off my books completely and free up my VA loan to purchase again. 

There are best practices on certain items that provides a guidelines.Commissions are always negotiable like any other services, you can shop around for the best value for money.All depends on the risks that you are willing to take.