Options for a SFH residence turned rental with negative Cash Flow

[Anthony Covington]

Hi guys. Tony here. 

So before BP when i knew less than nothing about REI, I bought my first SFH outside Jacksonville, FL where we lived for a few years. Work brought us to PA, so we rented it out to cover the mortgage.

Now that I know more, I ran the numbers through the calculator(vacancy, capX etc.) and found out I am -$150 cash flow/month. I believe the rent to be near the top of the market(1,500) but I do have good equity (60k). I also got ahead of myself and opened a HELOC on the property for capital on new projects, so I can't sell for a few years.

I think the problem is I didn't buy it as an investment. Any creative ideas on turning it around or mitigating the -CF? 

-Thanks