They are effectively like any other syndication (by definition they are a syndication), but put in place a legal ownership structure to accommodate 1031 proceeds.I understand why they have higher fees than the typical syndication, given the complexity in their ownership structure compared to a "typical" syndication.At the end of the day, any return from a syndication (typical or DST) is going to be primarily driven by market cycles.  

Rail road ties will be considered hazardous material in many states now .

If the list is available, the investors may be able to use it to direct marketing materials to them. 

$120 is that including material or its labor cost only?  

Learning how to estimate rehabs based on labor + materials is massive.

This comes with the expectation that I'll handle most of the minor things the property needs, but I don't have to pay for materials or tools to fix things.

The uniform grey looks pretty good when installed correctly and it is a very tough material.

Which often the time is a total combined project time encapsulating more than the specific task alone, but things such as roll-out, roll-up, any ancillary tasks, maybe getting materials, site travel etc etc... 

Supply & DemandUnlike financial markets, real estate prices and rents are driven by supply and demand.

There are 3 safe harbors available to you-De Minimis Safe Harbor ElectionSafe Harbor Election for Small Taxpayers (sounds a bit condescending)Safe Harbor for Routine MaintenanceCheck these out...Frankly given the amount, and what you are doing (low materiality to the plumbing system unit of property), I would expense it.