Your numbers look good on paper, but do they reflect reality?

Yes, you bought what seems like a good deal on paper, but in reality, you own an old apartment building in a neighborhood with poor security, possibly surrounded by long-vacant shops, streets piled with garbage, and a poorly managed community.

My net rental income was $300 to $500 a month, not enough to cover the mortgage payment (PITI) so I'm negative on what was supposed to cash flow on paper.

On paper I am only expecting to lose $1,200 for the year (assuming no cap ex expenses since I renovated everything recently).

. - I had a few COI/SOI leads while being on this team who have not signed any papers with me or any one on the team as of yet and won't for the next 2-3 months.

I keep scans or pictures of all of all letters I send this way including the letter as readable before it goes into the envelope which includes the tracking number written on the letter, plus the filled out certified mail paper and the envelop after its addressed. 

You’re going to want some kind of “official” to declare she is of sound mind to sign such a paper. 

That is exactly what traction helps you do that @Chris Seveney pointed out.It doesn't have to be perfect, but just getting something down on paper will be a huge help - at least, that's what I found when I started our Chicago general contracting business.  

I wish that I had prioritized having a nicer property, as opposed to one that looked great on paper but needed a ton of work.

For example one person does most of the rehab work/management and the other person finds deals, works through the paper work, and sells the flip.