People coming from Illinois are increasing the prices and rents nicely, however, stats show the population is decreasing. 

You have to have an understanding for the specific property and map your projections based on what that specific property will allow you to do as far as increasing revenue and decreasing expenses.

Any decrease will probably be marginal until you get 10+ units.

. # of listings and # of bookings) increasing or decreasing in the property's zip code?

What is also done is to formulate a mean or median return rates based upon which time metric you want, be it 1 quarter, year, 2 years, 5 years etc because as you point out it will be in flux each month/period as your invested capital decreases. 

“There is still a very small percentage of single family tenants who requested a payment plan or who had not made any rent payments.”Exactly half of the members surveyed reported that new management contracts had increased in October, and half said the volume had decreased.

Obviously, interest rates have decreased significantly since then, and I'm planning on shopping around to see if refinancing to get a lower interest rate would be worth it.However, I also plan on transferring my loan to an LLC in the near future (Fannie May owns my loan, so I shouldn't have to worry about the Due on Sale clause). 

However, in example two my net income, per the bank, is decreasing with each rental even though they are making me more money.Is my understanding of this correct?

Also, rents tend to stay reasonably stable or increase and pretty rarely do they decrease by significant amounts.

Leveraged inspection notes to get closing credits and other price decreases.