iPad Air, iOS 8.1.1 (12B435), 5.2 (502009) | Reproducible - Yes
iPhone 6, iOS 8.1.1 (12B436), 5.2 (502009) | Reproducible - Yes
No input cursor and odd scrolling when entering new multi-line notes field into an item.
Type another line and press return. Notice how all the field is now scrolled so you can see all the previous lines.
This pattern seems to repeat itself every other line.
A minor cosmetic bug in my view but I think the absence of the input cursor does represent a usability problem.