New company with no real track record2.

Specifically, I am looking to track the projected rehab cost of each unit, cash flow from rented units, first lien costs, general partners and limited partner returns.

You should be doing your most due diligence on the operator, the team, and the track record. 40 units in an opportunity zone could be a big win, but how many times have they done opportunity zone builds and have they worked with the city of Tampa before?

Granted, I jumped in ignorantly, not fully understanding the pro-formas, just looked at their track record.  

I think if we want to keep track of it, follow the builders and where Starbuck is opening their new store. 

The items you'll need to track are:Date of ExpenditureVendor Name/Tenant NameAmountCategory of Expense (look at a Schedule E to get this)/ or Revenue Type (Rent, Deposit, Utility Reimb, etc)Property (for when you have multiple properties.Put it in a nice column format like this:Date                     Vendor/Tenant                Amount                      Category                  Property1/1/18                   Joe Smith                         $1500.00                     Rent                           123 Main Street1/5/18                  Home Depot                   - $20.00                        Repairs                       567 Oak StreetSo that when you share your spreadsheet, they can filter for what they want. 

This is especially true for more experienced investors who have a track record of performing.

Both resources can help you find reputable property managers with proven track records.Additionally, my team has put together a guide with tips on how to hire the best property manager.

Have a planned/practiced 1-2 sentences about how you help people buy and sell real estate.Keep your expenses low, track not only what you spend (personal, and business), and track your "lead indicators"...x hours daily lead generating, # people you talked with daily about real estate, # social media posts you created about real estate topics.  

I recorded a list of what most of the liens sold for and tracked the wins of the clearly professional bidders for research and learning purposes.