Condo fees, taxes, vacancy factor, CAPEX, repairs. 1%  rule this property should be no more than $135000.  50% rule that half the income is expenses so $675 would be your net.

It is very demographic driven within a 5 mile radius. 

However, it is only half full, a few homes need to be removed.

Downside is home possible has income restrictions where you can only use it in certain neighborhoods such as Western half of Logan Square not east half, etc.If outside the income non-restricted areas then FHA can also be a good option for house hacking which is 3.5% down.PM me I can send you a few good investment friendly lenders contacts.

Glass half full-you are likely losing trouble tenants that will cause more headaches in the future.

There is a management office on the property that has a half bathroom.

ya not comparable.. central valley and Sac are 60 miles from SF bay area.. this is more like Walnut creek Moraga concord Orinda.. these cities all BORDER Portland..

You can get a HELOC for half that rate.You wrote "...tap into my home's equity without taking on the burden of direct debt," but of course you still have debt, it's just under a different name/structure. 

My wife and I have owned a business for about a year and a half which only made about $30k in 2018.

The comp is only aboutA mile away but it’s on the next town over