I think that with full occupancy it might achieve a $25K net rental income and from that RE taxes, insurance, utilities and other expenses need to be deducted. 

However, if you're okay sitting on it for now for future use and to create that dream you have, it may be worth keeping it and exploring other creative ways to utilize the land.

BP was the tool I utilized to learn how to invest and I respect this community beyond measure!

Trying to prevent turnovers as much as possible will keep you in business - avoid too big rent increases, ensure places are optimized for utilities & efficiency (can be a big reason for move outs- too expensive), timely maintenance fulfillments & more!

Just because it was done this past year doesn't mean I have to utilize it right away.3.

It also allows me to course correct if I see that I am not earning as much as my competition.Hospitable seems like a decent options for folks who are transition from Smart Pricing, or maybe have a simpler pricing strategy, but I think if you are utilizing a slightly more complex strategy, Pricelabs is the better option. 

Utility transfers are a big one, especially when ownership or tenants change.

Under utillizing the cash flow generated would decrease the value of this strategy. 

Cap rate only means anything if the NOI is realistic, and most listings are using a rosy NOI that skips vacancy management repairs and capex because it makes the deal look cleaner on the front end, so I just run my own quick back of napkin every time by taking annual rent and knocking off a vacancy buffer plus management even if you self manage plus a simple maintenance and capex reserve, then subtract taxes insurance and any owner paid utilities and divide what is left by the price and that number is the cap rate I trust.

For shared expenses like mortgage interest, property taxes, insurance, utilities, and repairs, you would allocate based on a reasonable method such as square footage or number of rooms, and only deduct the rental portion.