I'm running few numbers and they all seem to be neutral or negative with regards to cash flow.

And if we get rates in the mortgage in the mid 5’s over the next few years that will basically be neutral.

Financial sense for us would mean cash neutral or rental income covering the monthly carrying costs (property tax, mortgage interest, maintenance).Appreciate any input / guidance!

I try to find a neutral area in the middle of the DFW area.  

Deposit money should be held by a neutral party like the title company if you are not using a realtor.

I took the current Behr white neutral brochure to some spec homes in a popular neighborhood.  

You are trying to get his general thoughts on his being open to it or more closed off based on bad experiences in the past.If he seems neutral to positive you could bring up you are thinking of bringing in a partner on a deal and start talking about the property and details.

.- rent appreciation: I have purchased properties that were neutral on initial cash flow.  

I like neutral colors myself but in the pictures the colors in this apartment seem pretty, well, blah.2.

Patch and paint wholes..maybe paint whole house neutral color if they have funky colors6.