Variables frat PNMs MUST consider

It's obvious that you should join a frat where you fit in and feel comfortable, but there are other things you MUST consider. While frat parties are great, frats are and should be run as businesses. Frat dues are expensive.
There are many important roles that must be filled competently for a frat to operate successfully - finance, recruitment, compliance, housing, social, PR, philanthropy, new member ed, etc. Because of this you MUST consider the following issues (which about half the frats on campus are currently struggling with in a major way) before shelling out the cash and accepting a bid:

1. Housing. You need to know if the frat owns their house or rents another chapter's house. If they do rent, you need to know how long the lease is for that house. Not knowing where you are living a year or 2 for now is not ideal. If the frat evades this question, be cautious.
2. Chapter size. While numbers aren't everything, there is a general understanding that a chapter going into rush with at least about 75+ actives is 'healthy'. This is relevant because there are a lot of fixed costs that come with a physical frat house. The lower the membership, the fewer people there are to fill the house and spread the costs over - which can put upward pressure on housing costs and even potentially dues for everyone. Know housing costs and dues before accepting a bid. If the current chapter size is significantly below 75 today, you need to consider this.
3. Need for involvement. Another reason to consider chapter size is the amount of involvement required per active. Even small chapters need to fill the critical leadership roles listed above. Some want a smaller chapter so they can fill their resume with leadership roles and feel like they made an immediate impact, but the smaller the chapter the higher the likelihood you may have to take on a leadership role involuntarily out of necessity. If you simply want to pay your dues and participate in the bare minimum of required events but show up mostly for parties (which a lot of guys want to do but won't admit it), a smaller chapter may not be for you.
4. Hazing. This is the elephant in the room. Know your limits and be prepared to depledge if the line is crossed. Have self respect and depledge if it is the right thing for you to do.
5. Accepting a bid just to accept a bid. Don't do it! If you sense red flags and want to think about it before starting your pledging, ask if you can sit on the bid for a semester. If pressured, say no and consider spring rush at another house or rushing again as a sophomore. Lots of horror stories about guys deactivating after they pealed back the facade.

Honestly address the above, and you will love your frat experience! Good luck to all frat (and srat) PNMs!!