Some investments have risk-adjusted returns that are too high - meaning, the compensation for taking the risk is disproportional to the risk and the investment is speculative.

I presume the 10 percent is still in effect this year.I know other people have people bid for them, but I really like the auction and adjust my bids relative to other buyers. 

Is it possible to appeal tax adjustment before the abatement ?

So, you may need to adjust your plan, for how many properties you can buy at first.  

Had a preliminary discussion with a small local bank and they are suggesting I take a business loan with 15 year adjustable rate.  

Keep in mind that it is not uncommon to adjust the rent rate based on the amount of interest you receive, so don't be afraid to adjust it once the listing is posted.2) postlets.com is a great way to blast your listing out to over a dozen different listing sites, including craigslist, trulia, zilllow, and hotpads.

Once it is expired, you can adjust the rent you are asking.

Don't forget repairs, expenses and vacancies.My advise: dont analyse this to death, go buy number one, see how you like landlording, learn from it and adjust your plan accordingly.  

Adjusting for defaults, my annualized yield is about 11%.

Use the existing rents for evaluation - - they're real and all your marketing may not yield improvements.If there's known vacancy issues, then adjust the the GSI (sum off all rents * 12 months) and subtract the loss rents from vacancies (number of units vacant * average rents * number of months their empty) .