This method evaluates the business through taking the income minus the expenses and then dividing the NOI by the trading cap rate.

(you didn't indicate if this is free cash flow or expenses still deducted).  1.

My thoughts If I Keep: I could keep the property and rent it out for around $4,000 it looks like and would make approx $1400/mn before expenses/Cap Ex, assuming I manage it myself.

Rents are actually the same as my expensive properties here, which cost 3 times what a comparable house in Fresno costs.

It does not include photography expenses. 

...wait until you hire an amateur.This is what the amateur gave me.This is what the expensive pro gave me.

Those are all fairly costly markets to buy in and MTR rates, while good, wouldn't likely cover your expenses if you don't already own in those markets.

Hey Nick, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

I set up my entities mid 2023 -a holding company in WY and an operating LLC in NJ and have only had start up expenses so far and no income.

And that is expensing.