As a result, it seems the value is really just very long-term and if we sold it in the future, any repairs and taxes would cancel out much of the gains (depending, of course, on the pace of appreciation -- who knows what that'll be?). 

Ohio is noted as being popular for out-of-state investors from New Jersey.North Carolina - The cities of Raleigh and Charlotte in particular are considered good for property appreciation.

Appreciate the advice Jon.

From there you can develop a strategy with mostly cash flow that can help pay down your loans or invest in an appreciation market and buy and hold for a few years and pay down your student loans on the sale. 

Appreciate any input.

Hey Valerie, Columbus offers opportunities for appreciation due to its growing job market.

@Christian Styles, I appreciate the conformation to my exact thoughts👍🏻.

Alternatively recognize the challenges of being cash neutral at high LTV, the benefits of no longer paying a LL rent, that rates may lower such that you can refi, that over long term there will be appreciation and rent growth so it will at some point have positive cash flow, etc and lower your initial goal of cash neutral. 

It will appreciate over the long term.  

Northern New Mexico is the next front range of Colorado (unfortunately for locals, but fortunately for investors) this is a great appreciation market, but you will not find a Cash flowing rental unless you are willing to put in the work for an off market BRRRR.