The reason why we purchased this particular property was because I kept seeing on forums that you could not cash flow anywhere in CA and much less in LA County.

Basically is $0 cash flow on 1st year worth it?

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

I was wondering if anyone has a detailed spreadsheet for managing the cash flow of an investment property?

The pros - cash flow, cash on cash return, and potential for more significant appreciation in gentrifying areas.Conversely, A-Class is analogous to the S&P 500.

In the buy and hold situation, depending on what you buy it for, the expenses of owning/taking care of it, and how much you can rent it for, you could have some cash flow each month and have a second property that appreciates each year. 

A little late to be posting but wanted to get some of those mid-night thoughts flowing.

Here are just a couple questions you can use to determine whether or not it is a good buy: Does the deal make sense (cash flow) with the current interest rates?

I do not like this because I did not screen the tenant but on the positive side the tenant is already living in the home so it is cash flowing which is great. 

Good cash flow.