From a strict buy and hold for passive rental income i think it is a pass strictly based off these numbers:your rental income is 1850Your listed expenses are 888if you finance this for around 148-150K mortgage going to be paying around 800 a monththats 1,688 leaving you with 162/m cash flow without a property manager(assuming you do the work yourself)**Maybe look to move the utilities onto the renters to increase margins **CASH on Cash is about 4.8% to manage this yourself are razor thin numbers. 

Are there any lenders out there who will lend solely on cash flow?

From running a cash flow calculator,  it shows me that $189,000 financed would be around the breakeven point. 

The value I hope to receive in return is (1) consistent transaction flow since you will do multiple deals and (2) referrals to the other investors you know.

And if you really wanted to you could take the cash flow on your properties and apply it to your lowest loan amount for a few months to power that down and pay it off to buy your next home.  

Your are much farther into negative cash flow than you think.

SO from what I understand, you went from +900/mo cash flow to -650/mo cash flow?

If not, you're going to have negative cash flow. 

The cash flow is decent but the building is older and needs work.

Your Financial Goals are as simple as generating two very basic sets of number...dollars really:1)  Make enough Profit (lump sum returns) to Pay Off your personal debt...ALL of it.2)  Get enough CashFlow to "cover" your monthly bills...ALL of them...and to replace your current method of doing so.The overall Plan, is comprised of a series of Measureable Milestones made up of groups  of the individual Financial Goals (Debt Payoff, Cash Flow)...all lined up in a row.