What does "Break Even" mean?

[Patrick Butler]

I'm new to BiggerPockets and have not done my first long term rental deal yet.  

While listening to the podcast, I keep hearing people say you are doing well if you are "breaking even" on a long term rental year 1 with the way rent to price ratios are in most areas.  Can anyone weigh in on what they are including in "break even"?  Is it just your mortgage, property taxes, insurance v. the rent you bring in, or they also including a reserve for stuff that breaks, capital expenses, etc in their calculation?  

Thanks for help with the rookie question.