New to PPC, looking to maximize profit from small amount of money to start

In a sense it is very much more hit and miss rather than a long shot. As a long term project (ie your adding more $) you should turn it out in your favor, but where you may fall down is the luck for the better word of getting the sun moon and stars in alignment first pop out of the gate.

In most cases this probably would not happen but i did read a post where somebody did line them up first go ? but even then i am not sure that will last as no real lessons were learned other than luck.

The best you can do is use your gut call to pick your product and that becomes your starting point to base any further decisions from, as in many ways every part is trial and error.

As for your spend of .01c - .03c that stuff belongs in the movies (crap files) per say, i have seen some say they get clicks for xyz cents and maybe thats good for some types of promotion over a broad untested market / some product types but what your doing with search is more like laser surgery, there is no guess work and stating you get clicks below at a price just shows that person has not much understanding.

To put that in perspective, lets say i have that 2% conversion you spoke of on a $100 commission product and i pay $1 a click then 100 clicks = $100 at a 2% conversion = 2 sales = $200 return or 100% on your money, not sure but thats a better return than most banks, and if i said to any body do you want to double your money every time you put it into the pot what do you think the answer will be ?

conversion rate again misunderstood, wont do all of the sums here but i can have a conversion rate of 1 / 200 but as long as i have a cpc to match that and make a profit then what does it matter, so again price or cpc is not a focus per say , conversion rate is not a focus per say, yes they all must line up and produce profit but those factors are not predetermined by a .01 - 03 cpc ( or other cpc ) nor by a set 1 - 2 % conversion or other.

Start with your gut call product and start slow, there is no race ad you can pace yourself at your own speed with ppc so start small rather than large and learn as you go

I'd say you are looking at a long shot. Especially if you don't have experience. Also, you should really be careful with PPC if you are new to using it. You can very easily spend a LOT of money with very little return. Your $60 could be gone in a couple hours and you might not earn a dime from it. I suggest you start really slow and do some testing/learning before you really jump in.