I currently own a single family rental which I have about 140k in equity.

There are lots of opportunities for someone who can put some sweat equity into their properties.  

There are PLENTY of properties here in Sacramento that can give you a positive cash flow of $750 per month, and you don't have to fly 9 states away to find them.

Welcome to BP @Jessie LozanoI have heard positive reviews of the Wealth Club of Houston.

Due to student loans and mortgages on 3 properties, even with significant equity I have a VERY negative net worth.

Even if I could keep losses to 12k (what I would spend anyways), then I am still getting a huge tax break through deprecation and equity pay down my people staying there.

In some areas people are happy with the long term play, what this could turn out to be, and you'll just slowly be building equity. 15 years out you might feel like it was a great move.As far as the numbers, I'm not really sure because they're not all there.

And that is exactly why BP has been tremendously helpful, and i would like to go ahead and ask one little favour: I would like to purchase buy and hold properties with a positive cash flow and would like to invest out of state(given the high prices here in CA).

I was lucky to purchase a house during the down turn and now sitting on equity i plan to open a helc and start investing.

If you need money, you can try to find private money to borrow to fix it up, either here on BP or in your family and friends network.You need to find out what you can rent it out for, before and after fixing it, and then you can go offer investors an opportunity to earn some good returns.You can also probably take some equity out of the house, either through a HELOC or a HEL.Good luck!