We aren't negative people; we are responding negatively to the barrage of cult-like reviews.

This means the 50% rule fails now (50% + 60% = 110% --- 10% more in costs than rent), and other cost estimate methodologies seem to yield negative net cash flow.Am I thinking about this correctly?

I imagined that it would be insignificant / negative with the property being turn key already. 

If you pay more, you won't meet your metrics and will probably have negative cashflow and/or equity.You may have to make 10, 20 or even 100 offers to get one accepted at the price that meets your numbers.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I should always avoid negative cash flow (which is what I'm seeing) 3.

In 3 years it would still have large negative cash flow.  

However, when you factor in the HELOC, we have a negative / break-even cash flow (HELOC payments are about 25% of the revenue from both).

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

NOTE: One "new" negative is that all small LLC's are now subject to the Beneficial Ownership Information Reporting requirements of the Corporate Transparency Act.