With all the unknowns involved with notes, some of what's offered is much closer to gambling than investing. 

What a RE market will do tomorrow or even within the next years is unknown and unkowable within any reasonable range of confidence. 

I neither trust tradesmen or property managers, so I am not going to send unknown individuals there on my behalf.For the time being I will manage the way things are until I can get back to the US.

Happiness is found in Doing, not Merely in Possessing. source-unknown 

I have a plan to mitigate some of this, but not 100% and some unknown upfront costs could arise.

An REO I bought had a bunch of 5 gallon jugs of unknown liquid in the garage.  

>> Getting to the question:  Why are the appraisals done on my recently renovated houses including comparable of bank owned properties to determine value (many of these properties in bad condition, not yet rehabbed, winterized/unknown condition plumbing/electrical, etc...)

I think i could get these houses really cheep but this is a big unknown for me.

4. lousy return on your 60K5. unknown extra "special assessments"6. you never mentioned FMV.7. you sound pretty inexperienced8. this is not a good 1st investment,imo I doubt ANYONE will tell you this is a good deal, except the seller or any broker involved.

The basic premise is you pay them $1000 for the priveledge of bringing them deals and if the deal meets criteria that before you pay them is unknown to you, they pay you a 10k finder's fee.