What does the demographics look like, is there new construction, what's the average revenu in that market/zip code, Price-to-rent ratio, average price per asset you are looking (example SFH), average rent, etc.

I most defiantly taking into account PM Fee.

What fees are you charging?

We rent property short term and allow dogs (up to 2, 50 pds or less, pet agreement and $100 pet fee). 

These places are seeing appreciation like 30% per year lately.

On 60k, fronting 10k should get the project through with no stoppages waiting for draw disbursements and then the 10k minus the draw fees goes back to you at the end. 

I was first told that there is a state legislation that prevents them from not charging fees or charging lower fees. 

In my area, they normally pay at the last minute, even the morning of the sale.Never seen a nice house with a big mortgage actually go thru with tax sale.Could happen.Who is the lender?

It would be a challenge to get the 1/4" per foot fall necessary to tie into the existing main line on the property, although not completely ruled out.  

The long game the appreciation is where you will be building more wealth than a 500 or 1000 per month cash flow.