Depending on the relationship with the client, I will sometimes have them sign our state disclosures having me as "neutral" which has certain requirements. 

I want to hold this property as SF to ride out appreciation for future sale, or keep as a pied-à-terre for my future self—so even keeping my costs neutral to hold the asset here seems reasonable.

My goal is to become mortgage neutral with my investments.

I wanted to go with something fairly neutral to appeal to the majority of buyers, and not paint a wall an overly dramatic color (blue,green,yellow,pink).

Add in prop 13 protection.So assume you purchase that $400k unit non-owner occupied placing 20% down and that it is cash neutral at purchase.  

Each circuit has two separate conductors: hot (black or a dark color) and neutral (white).

From what I've seen, it looks like cash flow positive, or perhaps even cash flow neutral, on single family rentals is probably not possible with 20 percent down.  

Getting the property sharp will attract a large pool of buyers that either don't want a pool or are neutral.

They are more of an asset growth or preservation strategy with little beyond cash neutral positions, thus low to no tax event early on.

Do  your properties turn cash flow neutral /positive and if so, how long did it take?