There are markets where you can be at worst cash-flow neutral and still get the appreciation.

If it’s cats, enzymatic neutralizer is a must.

. $3-5kWorking Class - I'll do a midgrade updates - 2 tone paint with neutral walls & white trim/doors, inexpensive durable flooring. 

From a neutral stand point I'd say having someone that works with the PM company assisting you in buying a house could be a possible conflict of interest not in your favor, I don't get that feeling with him. 

There's a very old knob and tube practice called a "California three way" (neutral leg was opened during switching) that led to many liability lawsuits, many structures still have this.

About cash neutral if financed (likely slightly negative cash flow).It is a lot of work doing an owner builder ADU addition for something that if financed appears to have negative cash flow initially.  

The floors are a neutral  timeless color so it's always a winner for us.

If either property has paper losses that exceed the taxable income of the other, that would neutralize taxes due, but your goal should be 1) produce as much rental income as possible and 2) maintain the property while carefully tracking all expenses and improvement costs so you are only taxed on the appropriate amount of income, if any.

I can pull up market trends in major boundaries to see if a market is appreciating, neutral, or depreciation.

For most people paying tax now or later is somewhat neutral - sure you may be able to avoid 3.8% tax if there is a large gain but the risk of holding a note and losing liquidity is likely a bigger factor.