The original plan was to be 100% commission, based on metrics like net profit after the flip is sold, size ($) of the remodel, finishing on-time and under-budget, etc.Meeting our average profit per flip and doing 24 / year, our PM has the potential to make around $72,000 / year.

Depending on how far these tenants are lagging market rates for their similar size and condition of unit, you can be a touch more aggressive, but likely want to keep your rates $50+ below competition, so even if they are pissed they will start shopping around and realize they will still have to pay more and incur moving costs, if they choose to leave.

Another great prep strategy is to have the building pre qualified with a local or experienced lender for potential buyers to connect with and or they could entertain a full or portion seller carry back if they want to maintain some income.

Are the $1500-2000 rents for single family homes and if so, how many bedrooms, baths, size of the home?

We have done research for absorption and the market size for the units we will develop.

The tenants may be picky too because blinds can a little long for the window if you don't have standard size windows. 

It's not a one size fits all career.

Due to the lot size, the property can be converted to a 6-10 commercial multi-family property. 

What type/size of property is it?

The lender is stating the following: "we would require a mortgage on the lot in the amount of $90,000.00 when combined with your $50,000.00 deposit would be $140,000.00 down payment apx a 20 percent down payment"Is he saying I need to find another $90,000, or that he will act as the mortgagee on that portion as well?