that's exactly my point

according to your logic and formula, even if there is no cash flow, as long as Cn is greater than C0, your formula will be positive for a very small r. so you are saying it's still positive cash flow because you can find an r to make the formula positive. If that's the case, most real estate investments will have positive cash flows. that's not right at all. Finding an IRR has nothing to do with positive cash flow.