What is the first step to take in order to have a positive cash flow instead of a negative one from a rental property?

So choosing the right property (already well themed out or easily transformed) and location.

With syndication, you can acquire undervalued commercial properties and transforms them into cash flowing assets without needing too much capital and earn passive income. 

That’s a real transformation! 

Start with the potential gross income to determine the value and work backwards from there subtracting development costs, building costs, commissions and interest expense.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Purchase price: $200,000 Cash invested: $80,000 This property was bought in Brazil, Curitiba , Paraná, with 8 units and transformed in 18 units in the same space.

Cape Corals' long term plan is pretty exciting for existing residents and new transplants, I'm looking forward to being a part of the transformation.     

It was truly transformational for me, however there was not much detail on how to implement the concepts.  

They offer a mix of historic homes, new developments, art galleries, restaurants, and a vibrant arts scene.Government Hill- Situated near downtown, Government Hill is undergoing a transformation with new residential and commercial projects.

“Our fund is working on transforming downtown Mesa to a place for people to come together,” said Loeffler, Caliber's chief executive.