In my limited exposure to using PMs in Memphis (I self-manage), most had a scale of upcharge depending on the cost of the service. 

You can get a 3/2 on the MLS that can fetch .8% of MV per month, should net $100-300/mo depending on PM situation.

The typical price for land development varies widely depending on the scope of the project, the location, and the type of development (residential, commercial, etc.).

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

House hacking cash flow increases depending on how little space you can live in for a year (or more).I can't speak to Minneapolis inventory directly, but multi inventory is low in a lot of places.

You could look at NLV or Henderson depending on where you’re going to school.

I think prices vary depending on location but I pay about $10 mo.

If you're a lender, I might have some borrowers for you depending on your U/W requirements.

Depends.

Depending on what your rate is, you may be able to lower your payment with a refi, even after you move out!