Congrats on a solid plan and good luck with the flip!

I'm normally not one that advocates trigger-happy decisions, but IMO this kind of investing needs solid boots on the ground, and you're out of town.

To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights.

I was going to avoid answering, except for your honest request for a solid opinion.I'm trying to be nice here, but I'm having a hard time trying to figure out how  to explain how dangerous it is to do Subject To Pace Morby's way.If you want to stay out of trouble, dump it, now. 

Ensure the rents and expenses support the debt service and provide solid cash flow after covering the assumable loan, seller carry payments, and operating costs.Occupancy & Rent Roll: What’s the current occupancy rate?

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust.The best way is to talk to others who have had an experience investing with the sponsor already.

Long term financing ensures solid, residual net-profit income without being a landlord How did you find this deal and how did you negotiate it?

I would definitely take out the equity of your home through other means and keep the solid rental. 

The best way to develop a solid SOW is this - you start off with what you are visualizing in your head, send drawings, pictures and products that you like.

I know taxes and insurance have gone up a lot in that time so I understand that problem but the solid rent increases in that time have been able to cover most of that (at least for me it has worked out).