It is currently cash flow neutral and rented maybe $100-200 below market. 

I have yet to purchase a RE that projected at purchase as cash flow negative (I have purchased some that had very little (virtually neutral) cash flow projections) but if I want to make a purchase in this RE environment it may be required to purchase cash flow negative.  

This is from a neutral Michigan Realtor.

As a rental, it really isn't that important what the paint color is (in my experience)...That said, if you're looking to change, I would go with something that is lighter and more neutral.

Possibly paint a room or two in a neutral color. 

Units in that price range will rent for about $1600-1700/mo - so with 5% down they SHOULD be close to cash flow neutral post move out in 1-3 yrs with some rent bumps.   

As a general rule, the pass-through entity LLC is tax neutral.  

What they agree on:- they agree the neutral FFR is 2.5%-with neutral FFR like this, US economy still generally strong, including labour market.

@David Luna When I'm looking at an investment I try to use a "neutral" figure. 

You likely need near 0.7% ratio to be cash neutral if you held at 80 LTV.