I previously posted about the purchase on the following forum link: https://www.biggerpockets.com/forums/522/topics/546300-first-investment-property-havelock-ncAfter a year of living in this property, and sporadically house hacking it, I started assessing the true cost of living there and how it could possibly perform as a rental. 

= $47.4kFor Cap rate, I'm not sure the place would be worth $400k, that's why I'm asking if that's reasonable but let's assume it would be: $47.4k/$400k=~12% capAny further insight or thoughts on my assumption for repairs/maintenance costs / assessed value are appreciated.

The more you learn, the easier you will be able to assess the variables.

-Comparative Rental Market Analysis – we used two realtors and multiple online tools to assess the rental CMA - the neighborhood shows a $0.75 per sqft corresponding to a rent range of $[N.NNN].

What % of the assessed value should i go up to?

I will be occupying about 35% of it and the rest I will be renting out.The bank originally assessed my building at $1m.

I have a fallen tree issue and would like to connect with someone local to the market to swing by the property to send video/ pics.

When I assess my goal of achieving financial freedom through real estate an engineering position doesn’t seem to align with the goal.

Just to add some more info, the property was last assessed at 112k but I am not giving that too much weight. 

Also, the realtor bases the asking price of the lot on the village  property tax assessment of $30,000.