I am looking at a 7 unit short sale with only one occupant and no financials (because managing partner is not cooperating with the bank).In preparing my analysis for investors/financing, I am trying to get a rough estimate for wastewater costs. 

All the other cities I've lived in (Brisbane, London, Sydney, Melbourne, Singapore) you can't get within 10 miles of the city if you're not prepared to pay a huge premium and the previously dodgy areas have been gentrified.

Do I prepare to walk if there isn't a permit?

@J Scott , we both just read your flipping book to prepare us to get started.

You'll stop receiving rent in sept-oct due to back to school and preparing for the holidays.

If you DID already have the windows cleaned, then be prepared for nit-pickiness. 

In this case, the pay I would prepare for would be the management fee (which will not be all profit) and property manager salary?

Just getting mine was an ordeal, because of all the cash offers I had to compete with, but live and learn.Good luck to you, I'm more than happy to share more of my experiences with the 203K program, This book was a pretty good book that helped me in the decision http://www.amazon.com/gp/product/1441483004/ref=oh...but honestly no book can really prepare you for the process. 

In fact, we have heard he is preparing to begin a charitable campaign and competion for entrepreneurs that is sure to be as successful as his real estate developments.

Just be prepared.