No verbal exchange is necessary and it should be avoided in my opinion because it can generate arguments and conflict.

You should be able to easily generate 10% annually by lending your money out or purchasing some type of note (there are a lot of options). 

Haven't you heard that women of our generation are out earning our male counterparts? 

I am having trouble finding an efficient say to generate solid leads.

We're debating flipping to try and generate the cash to purchase the properties we'd like to hold.  

In order to find (and successfully close on) a deal that is worth both your time and effort, and money, as an investor, you probably will need to generate enough leads: Talk to enough motivated sellers, estate attorneys/ bank REO reps in your target area, to see if there are motivated enough sellers for you to talk to. 

This way you can generate revenue monthly to pay bills and live while working on the project.

Hope it helps.http://www.biggerpockets.com/blogs/3103/blog_posts/39826-my-guide-to-building-an-online-lead-generating-website

I've written a couple of blog posts, but it may be better to use the forums as well to generate some active discussion. 

The only scenario I could see schedule A is if you held onto the house as an asset and portfolio investment and didn't intend on it generating any rental income-- it sat idle for example, no renters, waiting for a quick flip, etc.Those are my thoughts you might find some other advice or direction on this board from those practicing CPA's that have direct experience.