New to Real Estate investing... trying to devise my strategy for entering market

[Erik Koenig]

Hi new BiggerPockets friends! 

I am in a good cash position and looking to enter into real estate. 

I'm trying to wrap my head around one key thing... For simple math, if I purchased a $100k property with 20% down and was able to get rent to cover the mortgage, interest, taxes, maintenance and property management (essentially zero cash flow)... held for 30yrs with no appreciation... then wouldn't I essentially hold $100k equity in the property in 30yrs on an initial investment of $20k? I know there's a million other things to factor in (vacancy, etc.), but fundamentally, isn't this a case where renters essentially pay my mortgage and I end up owning the asset? 

Said another way, if a rental property doesn't appreciate or cash flow, but does enough to cover the expenses tied to the property, isn't the fundamental benefit of a long term strategy like this simply owning an asset renters paid for?

Take it easy on me :-). Thanks!