It depends.The previous posters highlighted some of the negatives.  

I only charge this little because the pair I rent was left behind from an eviction and I have rented them for 3 years with only $120 in repairs, so they have paid me dividends many times over.The apartment complexes in the area get about $125/month.

I'm leaning towards doing it even if I only use it for myself also I love real estate so I think it would be fascinating. 

Just need basic services as I only have a few properties, but want someone I can grow with. 

I ONLY use brass fittings with TWO hose clamps. 

Now with time and rent growth, what could be a negative cash flow property might very well become a cash flow king, but that takes patience.When I’m analyzing the numbers on a house hack I go through this progression.

( I am under contract and look for every negative possibility to prevent acquiring a bad deal).

With a little planning, you can minimize any negatives. 

I wonder if it needs just cosmetic work, and I only have $5K cash, is there a way that you can make a deal with the owner to do the rehab and just bump up the price so my loan can cover it?

If the number is negative, that amount is added to your liabilities.