I work in Richmond Heights for my regular 9-5 which is fairly close to some of the aforementioned localities.

Obviously I am not charging rent for this time, but what amount is fair for motel accomodations?

I assume it’s fairly accurate and has been a nice resource to help me and my wife stay on track.

I am fairly new to the real estate development/home builder market.

I think your assumption of 4.5-4.90 is a fair assumption. 

in so cal it would be RARE to have a lawyer involved in this transaction @David Weintraub  we are a title and escrow stateso take out the 1k  and the two addition doc review fee's 750 and 795  those are straight to the lender for his profit side.other than that fee's are fairly standard..

I think the cost of attendance ensures that the group will be serious folks in the industry. 

I didn't read this to ensure its accuracy but it certainly looks to be from a credible source. https://www.irs.gov/pub/irs-utl/33-Real%20Estate%2...Cliff Notes:Real Estate Professional Qualification • Material participation in each specific rental • Material participation in separate Real Property Trade or business • 50% rule • 750 hours rule • 5% ownership ruleReal Estate Trade or Business Defined IRC Sec. 469(c)(7)(C) Any Real Property: • Development or redevelopment; • Construction or reconstruction; • Acquisition and/or conversion; • Rental Activity that is not a Passive Activity; • Property management; • Brokerage activities.Example 1: Laura owns 5% or more of a real estate sales office • Works full time as a broker • She owns 3 rental properties and: • She finds the tenants; • Approves tenants and leases; • Approves and oversees repairs & improvements • Net rental losses are $31,000 and her modified AGI is $160,000 before the losses • Deduct the full $31,000 in the current tax yearExample 2: John acquires old homes and contracts 3rd parties to renovate and ready for resale.

I'm fairly new (Started 3 months ago) but it seems to be a good deal the GOI is 96,000 it currently has long term tenants with a 100% occupancy and the NOI is 59,000.

I've had better experience with "fair market" transactions listed by motivated individuals.My advice is to have your agent to set up a search for vacant houses with key words like 'fixer-upper', 'probate', etc.