As for being afraid to cross lines, I offer my personal perspective:Sometimes, you'll find that you will have to ask for forgiveness and risk paying a small price.

The town has a solid working class, but I'm not counting on the town growing particularly quickly, so I'm not counting on appreciation.

Let us count the ways! 

Or a rehabber who was counting on hard money and could not make it happen. 

(You are counting some expenses twice--interest, taxes, insurance, vacancy.)

Keeping my fingers crossed for good news!

If you were not on the note and had an agreement to share profits, they can't be counted to the debt coverage, being on the note, shared appreciation, paying debts first and splitting net proceeds is much better.

@Chad Duncan    I would echo  what Aaron said -  You havent counted all your epxenses , and you already cash flow _  . 

I also wouldn't count on the 60k (if that's accurate) & plan for the best & worst case scenario (break even) for the 1st year.  

Are they counting your rental income?