This is going to be cash flow negative until the rent appreciation is enough to make cash flow neutral and eventually cash flow positive. 

It can take years to just be neutral on your return.  

The interior was badly stained with tobacco so I paid painters to do 3 coats of interior oil-based primer and neutral gray in the other rooms.

Are they yellow letters or neutral colors?

The paint chip looked very neutral but it ended up having much too much blue on the walls.  

You can you passive losses to neutralize/eliminate passive income.

The rest of your living space should be flat, light, and neutral colors.Deviate from this simple paint scheme and you will meet people with refinement and taste who think you just have less refinement and taste than they do.

What type of properties are you targeting and do your letters include offers or is it more of a neutral letter?

Also all legal documents are in Spanish, and there aren’t standard state-approved forms and contracts that agents are required to use like in the states or neutral conveyancers handling the legalities like in Australia, so contracts vary from agent to agent and everyone has to cover their own butt.

Neutral.