I develop a relationship with my contractors by being fair and respectful and appreciative and they reciprocate.

The fees for a normal straight exchange should be much less than a few thousand.  650 - 1000 is  a pretty normal range.

(Servicing fees for a performing loan are generally in the $15-$20/month range.) 

I also tried googling other parcels currently on the market but the numbers range from $46k-$400k.  

Memphis can be the best market in the world, but it can also be very challenging if you are not intentional on the front end.We manage properties (mostly single family, duplexes, and small apartments) in 40+ zip codes in the greater Memphis area (including Eastern Arkansas and North Mississippi)  and the rents range from $2,000+ down to less than $500.  

I talk about ways we generate leads, how much leads can cost (double those #'s for LA), and why you want to develop a consultative approach - offering your solutions (buying, listing, etc.) as a range of opportunities to solve the seller's problem.  

I was very respectful and told them what I had, what I was looking for and if they had cash buyers in their clientele.  

Thanjs Minh, and especially for sharing some of your recent experiences by way of explanation.yes, I am a "soft" landlord in some respects.

Much respect to you and nothing personal ...

The HM lenders I've seen in the DFW area typically do 70% ARV in the 14% range, 2 to 3 points sometimes one point upfront and the rest on the refi.