Hi Gbotha

Try to forget about cash flow; income and expenses are what matters.

You are taxed on all income less all expenses incurred in producing that income.

So,
Income = R86,400
Rates = -R3,600
Levies = -R15,840
Bond Interest (assume) = -R48,000
Taxable Income = R18,960

Some things to note:
Bond interest will reduce every month. The finance institution must provide you with a tax certificate each year.
At some point you will incur other related expenses, repairs & maintenance, insurance and there may be others.

Also bear in mind that if you are married in community of property then the profit or loss on the activity should be halved.

If there is a net income amount, it will be added to your other income and taxed together. If the other way round it is deducted from your taxable income, but bear in mind that it may be ring fenced depending on your particular circumstances.