Also,  have a discussion prior as to your involvement if you would like to be completely passive and simply receive quarterly updates on your investment progress, or if you would like to know the challenges and why specific decisions were made along the way... latter of course takes additional time commitment. 

I know I have to give my quarterlies and yearly's and I have to maintain net worth.. drop below and cash has to be added.With your average BP buy and holder they are getting their first 10 loans and these don't have net worth provisions so the banks are allowing them max leverage with no real over sight other than front end underwriting.I think some of the portfolio lenders on the bigger stuff I hear about they have annual reporting requirements.

But quarterly or even monthly distributions are fine.

I have a company visit every quarter, but I pay for it so that I can choose the company and receive reports about any issues. 

http://www.wbur.org/hereandnow/2018/07/03/manhattan-real-estate-sales-fallAccording to a new report, Manhattan real estate has now had its worst second quarter since the Great Recession.

For your second question, I would calculate any recurring payments as a monthly income even if it is paid quarterly or annually.

@Josh LyonsUsually, I take distributions from an LLC quarterly.

Article from today —Almost 50 percent more potential homebuyers from outside Arizona searched for houses in Phoenix area during the first quarter than a year agoAbout 23 percent of out-of-state buyers looking in Phoenix were from Los Angeles during the first three months of this yearDenver residents’ top pick for moving was Phoenix—Metro Phoenix draws homebuyers from LA, Seattle and Denverhttps://www.azcentral.com/story/money/real-estate/catherine-reagor/2018/07/15/metro-phoenix-draws-homebuyers-la-seattle-and-denver-home-prices-household-income-redfin/772863002/

@Robert Raffalo You should get on the JWB mailing list, they will send you a list of all the people they help each quarter, new owners.

It lays out on a quarterly basis, capex budget and cash flow.