Cash flow is the most important issue when owning an investment property.  Assuming you have borrowed money to purchase the property, this means you are gearing the property, i.e. using borrowed money.  This gearing could be positive or negative. 

Having a negatively geared property means you are making a loss on the ownership of the property.  This could mean you are making a cash flow deficit. 

A positive gearing property means you are making a profit on the ownership of the property.  This could mean you are making a cash flow surplus. 

Regardless of being negative or positively geared, the principal repayments of any loan need to be considered.  The principal repayments are not tax-deductible, however they do have an impact on your cash flow

Do not focus on whether the property is making a tax loss or profit.  What’s important is the ongoing cash flow.  Can you afford to lose $100, $200 or more per week? The ongoing affordability of keeping your property is related to your ongoing cash flows.