I'd live in 1 unit and rent out the others, but really my goal would be to find something at least cash flow neutral if I decided to move out and rent all units. 

This way when the market slows you are still making a good amount of cash and not going to neutral or negative with your business because you aren't doing the volume anymore.I love a low overhead and high profit business.

Only a neutral person will give you the real reason.

Some contracts are heavily slanted toward the buyer, some the seller, and others are neutral. 

The neighborhood really has a mix of colors... from kinda crazy bright colors (purple, bright green and even orange), to the more usual neutral tones (gray, tan, green/gray).

The lender usually chooses the appraiser so it is a neutral third party.  

no clue here which colors to pick 2. interior walls - was looking in this forum for neutral grays for a smaller city row home with pine flooring on 1st floor and upstairs hall; gray carpeting in bedrooms. 

The servicer acts as a neutral 3rd party...to uphold the terms of the agreement between the buyer & seller. 

However, I doubt that price would work if this is an MLS listed property ... that would likely be for an off market property purchased with cash/hard money loan.I understand that you are planning to buy and hold, and you may be able to squeeze a slight cash flow if your numbers are correct, but I always like the property to work as a flip AND be cash flow positive (or at least neutral) ... one is for plan A and the other for plan B.

That alone should make the properties cash flow neutral with your numbers.