It really depends on what your yield measures.

At least not after taxes anyway, I'm not sure if they measured it against my gross income. 

I'd be putting these things in, and then share with the neighbors what preventative measures you've put in place to make sure you are helping preserve the neighborhood.  

If someone buys land and holds onto it they are negative cash flow and almost all of their return is going to come from appreciation, the reality is that real estate in a good location will appreciate over time and that is often the biggest part of the return, the cash flow is more of a defensive measure to make sure you afford to hold it long term.

Unless you're paying cash for the property, cap rate probably isn't the best measure to use for a single unit rental property.Generally, cap rate is used for larger and more complicated investments where you're trying to screen for whether the investment passes an initial viability test.

However, there are multiple preventative measures that can be implemented to reduce the risk of being selected for an audit.

When I look for mortgage quotes theirs never measure up. 

The lot roughly measures 18 x 26 as shown below; I was somewhat surprised of the rear parking requirements since this is not a new construction. 

How will the newly passed rent control measures affect how you invest in the Minneapolis - Saint Paul area?

Next time I acquire a mid-term property; the first visit I will: take detailed measurements & notes on each room & part of the exterior, I will take a detailed video walk thru.