Negatively?

With other expenses, this would surely have negative cash-flow, but we do have the other rental that could offset that?  

You gotta wait for the perfect wave and just trust that it will come with time.Whenever you invest off a negative emotion greed, FOMO (fear of missing out), pride, etc you will have a very bad time.

As the title states I just graduated,early, from the University of Virginia in December with a bachelors in Statistics-econometrics.

The problem is the agreed upon rent ($1300) is causing a negative cash flow of about $200, as my total mortgage payment w/ escrow is about $1500. 

Overall, the Central Texas housing market is beginning to normalize to more stable market conditions.Here are the basic stats on single-family homes sales for February 2017 for the City of Austin and the Greater Austin Area:Below are excerpts of from the press release from the Austin Board of REALTORS®.The February 2017 Central Texas Housing Market Report....showed a slowdown in single-family home sales growth throughout the Austin Round Rock Metropolitan Statistical Area (MSA) in February 2017, indicating that the Central Texas housing market is beginning to normalize to more stable market conditions.From Brandy Guthrie, 2017 President of the Austin Board of REALTORS®:“The Central Texas housing market is just now beginning to catch up to itself after years of unprecedented sales growth.

Her only other negatives that come to mind is she has destroyed several pairs of shoes and books by chewing on them.  

In your situation, I'd be thinking about whether I can sustain the negative cashflow for another 9 years because after the mortgage is paid off, you'll have positive cashflow.

I know because I once negative cash flowed for the year a property that I owned free and clear (no mortgage) ... so, yeah, PMs can often be kinda expensive.

@Keith Jourdan I recently read a statistic that said there is 40% less inventory on the market today than there was a year ago.