How are you making any money with Rentals?

[Anthony Newbold]

How are you making any money with Rentals?

OK...  I know.  Pretty general question.  But truly...  how are you doing it to your satisfaction.  Now here is the reason for the question, and of course I would like to hear input.  I am brand new to this forum, so I suppose I would like to get a feel for how everyone 'thinks' or processes their real estate investment.

OK..  I purchased a home for 40K that will rent for $650.  After all expenses, debt service, vacancy and maintenence, the cash flow will only be $145/mo.

So I will be receiving $650/mo but only keeping $145/mo until the first small crisis that will cost 2K (roof/ furnace/ toilet, etc...)  AT which time will not make any of this worth my time.  NOTE:  I will be doing all of the property management, etc... sleepless nights, etc...

So.....  why do you do it?  Honest question.  And honestly, I appreciate all responses.