Now, looking deeper into potential expenses, it looks more and more like my purchase will be cash flow negative on a monthly basis.My question for you all is this - have any of you been in the situation?

Like I said, these were things the books had not done any diving into yet

Ive taken the approach of learning from diving in the deep end.

Sounds interesting.I don't even know where to start with this one though...Do you have any articles or resources you recommend I review to dive a bit deeper?  

Jarrod was able to dive into the why of the "no" and once you know the why, you can understand how to get to the yes.

I ran into this personally in Detroit when I foreclosed on a few of my CA borrowers ( failed at landlording)   and had bills of 3 to 6k each.. their tenants never paid.. these are the deep dives one needs to look into before choosing a market to be a landlord in. 

I had the same mindset for awhile and kicked myself from the deals ive missed hope in now and when the market drop dive nose first

That is  $25k plus deal with neighboring wells that I would pretty much guarantee don't have the 200 foot well liners so now we are talking probably another $12k for the well liners going deeper OR implement a self contained septic that I don't know much about. 

Part of me wants to dive in and start finding ways (loans/partnerships) to stretch my limited capital while looking for my first deal.

Part of me wants to dive in and start finding ways (loans/partnerships) to stretch my limited capital while looking for my first deal.