Personal tax in cash flow analysis of a rental property?

[Patrick Cartier]

Hello everyone,

I am new to real estate investing and I am looking to purchase a rental property. Looking at 4-6 units properties. I would use one of the units as my personal residence and rent out the others. 

Having a positive cash flow is key to me since I want to minimize my risk. 

Here is my question: When analyzing properties, should my cash flow include the personal taxes I will have to pay on the net income generated by the property? In my cash flow calculation, I assume the unit I would use as rented out at market price. I live in Canada and my personal tax rate is nearly 50% considering my personal income. When I include the personal tax component, finding a property with a positive cash flow seems almost impossible...

Thanks.