Hi Glen,
You’re correct, any property can be made cashflow positive with a sufficiently large deposit but that’s not the point. It’s the return on that deposit that counts, or to use Steve’s terminology, ‘cash on cash return’.

A positive cashflow property returning 4 or 5 percent is a waste of time and money (unless you can guarantee fabulous capital growth), better to put your money in the bank. Similarly a negatively geared property, that costs you money limiting further investment on the promise of possible future returns, is also problematic.

Much better to have a cashflow positive property that produces high returns now that enhances your ability to invest further.

Phil