If you are in a high equity position, low cash flow, why get into anymore debt to be in a negative cash flow position? 

This concerns me when you state it is cash neutral because if your underwriting is like most newer RE investors it would mean you are cash negative.  

If you have ever learned something important by trial and error, then you can probably understand the frustration that you feel when you make a "rookie mistake" or a simple error that creates a big negative result.

Yes you can find properties which you will be able to purchase, but ROI will be near zero or negative. 

A grand negative cash flow is not the issue.

The idea is to expect a negative cash flow, however bank on the growth to achieve a good return.

Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month. 

Any feedback positive or negative would be appreciated!

It may surprise people to know that a deed does not need to be notarized to be effective, since notarization is required to make a deed recordable, not effective. 

So much negativity.