(From what I hear the first property can be very impactful to jump starting one’s real estate journey (or very very negatively impact it,).

One of the options that I was recommended is having one of your tenants as the manager and maintenance guy for all other properties I own.Anyone experienced with such a concept?

However, it would be cash flow negative if I were able to assume the mortgage or buy it with 20% down at the market price. 

Without the bank the whole concept is kinda out the window. 

Two syndications with 12% return, great management track records, everything the same except the deal itself.Everyone above has given you a good breadth of concepts, so these fit your concept of passive?  

Are there specific pros and cons I should consider when it comes to refinancing, forming an LLC, or even continuing with the rental given the negative cash flow?

Key concepts in zoning are the zoning maps, zoning matrix, planned zoning map, special/use variances.  

In several California cities there is this concept of 'banked rent'; that is rent increases from past years that were not applied.

Renting an apartment for a year allows savings and familiarity with real estate concepts, but still requires rent payments.

The Fund of Funds is a concept I want to dig into.