I would almost as soon leave a young man a curse, as burden him with the almighty dollar.

But in the end the answer to your question is yes, by leaving out management fees (or any other expenses for that matter) they would be skewing the NOI.

We are currently in a position to leave our current residence and live rent free in a home paying only utilities and upkeep.

Our partners in Detroit can only accommodate about half of our proceeds, leaving us with roughly $500,000 to invest. 

Yes, you can use direct marketing (mailing,) but if you have a low or no budget for marketing, you can call directly, text, knock on doors or leave door hangers or letters at the property.I started wholesaling when I was a college student over 30 years ago and I definitely did not have money for marketing.

Your All-in Costs must fit within that amount or you end up leaving additional cash in the deal in the form of equity.  

Should I use the buy and hold analysis and just leave out the numbers (like down payment) that don't apply? 

Then propose one of the solutions above: simple owner financing (he will issue you a mortgage note and you would get title to the property,) "subject to", where you will get on title and leave the mortgage in his name and keep making payments, or "lease option", where you enter a contract to lease the property with the option to buy it in the future (you can sell it or buy it out.)

I would now like to try to collect unpaid utility bills and damages from a tenant, but I do not know where to start.Here's where I stand...The tenant moved out on July 31 leaving unpaid utility bills and damages of $723.29 (in addition to his security deposit).

The leaving tenants gave him a lead, nothing more.