What minimum monthly profit should I aim for on a rental property

[Nick Tarantino]

I'm looking to buy a rental property and hopefully make monthly profit after the mortgage is paid. I know people that have rental properties where the tenant's rent only covers their mortgage and there is nothing left over. I don't want this to happen with me. I'm looking to get started in the Houston area.

Thank you.

[Lucas Gerard LaCour]

Depends on the market, but after taxes and repairs, at least $200. I allow 10% of rent for repairs and it usually averages out pretty close over the long term.