I think Airdna just released an article on best areas.As Michael and Chai said.

He already has the $50k with the hard money lender however they will only release funds once first phase of the project is completed. 

If that means the rent goes into an escrow account that's released to the landlord when S/he meets conditions, fine - or if it gets paid to the court as part of the LL's restitution for not maintaining conditions - whatever.

Andrew - I think you've accounted for a majority of your costs, but just a few others to consider include: vacancy factor (typically 5%), turn/over or releasing expenses, and property management fees (7-10%)  - whether you pay someone else or do that yourself you might want to include in your calculation.

They never told me about this fee and won't release my deposit until I sign the release form woth deducts the 400 from mt deposit.

Check with your state real estate governing body to find out what they require.  

The release form would prevent that. 

Mainly because I have to pass inspection from the accrediting body prior to staring the business in the front portion of the building approx 3000 sqft.

In my area the appeals are heard in the middle of the year with the result of the appeal coming out in the fall so that the taxing bodies have the information for the following year's taxes. 

Then you can get it released as you finish the job (either after it's done or after passing certain benchmarks).