Cost is always a concern, but aesthetics and durability are equally important here. 

if the manager charges a fee of 10% of the collected rents and a lease up commission equal to one month rent... in the first month that the property is rented for $1000... do you charge $1000 for that month, or $1100 for that month?

Off topic, but I suspect "...loan is blowing up on me after 10 years..." is going to be a common theme of refinances in 2017 because 2017 minus 10 equals 2007.2) Pull equity out of another property to pay this one off and own it free and clear.

According to the County Clerk, the tenant is still required to pay the bond equal to one month’s rent by 30th December in order for the Appeal process to move forward.

Seems convenient, but in my experience convenient equals most expensive route.  

If he/she defaults on a monthly payment, you can default in an equal amount.

Thinking out loud here...You as the master tenant are allowed to sublet.Your rent is equal to PITI + 10%.You are responsible for 100% of the maintenance. 

As a general rule, all the liens are wiped out behind the foreclosing entity (All things being equal, proper foreclosure, proper notice, etc..)

(although many do), I'm saying all A, B and C areas aren't created equal.  

It is priced equal to the others in the neighborhood.