From a newbie that wants to dip that first toe in the water, it is all very much appreciated.Regards,SamNOTE: I have other questions connected to this property that I will post tomorrow in the appropriate sections.  

I'm thinking this is an appropriate gift for buyers who are transplants to a new city.An example would be for a couple in their late 20's who are moving from Iowa to Chicago.

Always pull the appropriate permits. 

I'm not sure what the appropriate number is in your market, but bump it up a bit, bump up capital reserves and you might be surprised that even with this accounted for you're still making more than on an a property.

I'm wondering if it's appropriate to post it here for review?

If you are contributing money as well, say for the rehab, then a deed of trust might also be appropriate.

I hope it is an appropriate question.  

I manage my own properties but was wanting to know what kind of % per month would be appropriate or conditions of what kind to follow? 

As long as you've priced in the land appropriately to your deal then you'll know how much of a premium you can afford to pay for each parcel.Sometimes it can take years to assemble all the parcels needed or desired. 

Flips are really more another job than an investment since so much work is required for the rehabilitations.