Is operating with negative cash flow a good move?

[Kelvin He]

Hello, this post is an update to my previous post : 

To summarize that post: buying a house for ~$250k w/ a 30-yr fixed rate loan, will try to lease it out for ~$2k a month, monthly expenses are ~2.2k a month.

The fixed rate loan is for 30 years, 4.75% and 3.5% down. I used https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx to calculate how much equity I would be getting at 5, 10, and 20 years. These numbers are:

11.9% equity in 5 years (.119*250k =$29750)

21.8% equity in 10 years ($54500)

52.0% equity in 20 years ($130000)

100% equity in 30 years ($250000)

The numbers above are considering that the house stays at 250k in 30 years, but I think it will appreciate [Pflugerville / Round Rock, TX] (need to do more research)

Is this a possible equity play? Or am I better off trying other investment vehicles? Thanks.