Cash flow is helpful because it ensures the property pays for itself and is a safe investment.

I am in 2 of his deals and both are not currently paying a return. 

Also, if you are a minority, WRA has the Partnership for Success program, which helps pay for your start up costs.

You let it slide, waive the late fee, and she pays by the 10th.

Regarding your other questions:  - If the going value is $260/SF, why would you pay more than that?  

There are cheap PMs, but I think you end up paying for that in the end. 

Somebody somewhere had to pay for that real estate at some point and has continued to pay for it since.

More than happy to partner up or pay for the deal itself.

I currently use Followupboss, prop stream, I alternate between calltools and mojo, I've also tried smarter contactIm looking for a CRM that incorporates all of this but Im not paying a crazy amount.  

If you truly are limited on time or can't make investing a priority, you should look for smaller projects as others have recommended.1) General Contractors are available to run your project, but most are too expensive to make ROI work on smaller projects. 2) A great PMC can act as a Project Coordinator for rehabs, but many won't be transparent about the costs, so you know what you are paying for.