It's meant for gap financing, so you can't compare it to a DSCR or some other kind of first position financing.  

Luckily, I did have equity in all of my properties.

where can we find places-websites to analyze areas that will provide positive cash flow?

No problem, though—I can get close to $100K saved by the end of the year, so I’ll be in a much stronger position.My question is, is there a specific number I should be striving for that would put me in a good position to invest in real estate?

Selling- Even if this property eventually turns net positive, at what cost?

Both of our properties have about 100k in equity in them so we were thinking about using getting a HELOC on the duplex rental property and use that money for the down payment on the next property.

It puts me in a position of barely being able to cover expenses.

Left almost nothing in the deal and got a great equity capture at the buy.

Building a trusted team is key, so starting that process as you actively search for your market will put you in a strong position moving forward.

Any positive cash flow should go towards paying off debt.