Lots of new investors will get sucked into buying dirt cheap properties that have great cash flow without factoring in higher maintenance costs, capital expenditures, vacancy, eviction costs etc. 

Management is usually 8-10% another 8% for vacancy, maintenance should be accounted for, and lastly cap expenditure. 

Make sure you fully understand all your expenses, including capital expenditures, to get a true picture of your NOI.  

None of the leases have provisions for annual operating expense (ie CAM or NNN) adjustments, and my insurance and tax expenditures are increasing.  

Is it appropriate to ask the property manager for a list of CapEx expenditures over the last few years or ask for a list of annual expenses?  

If got all the capital expenditures, maintained, vacancy, and property mgmt incorporated into my NOI.

Will I be able to rent a property out for enough money that I am able to pay the mortgage, taxes, insurance, property management, utilities, capital expenditures, repairs, etc and still make a profit every month?

[removed for clarity]Trade or Business Activities A trade or business activity is an activity that: Involves the conduct of a trade or business (that is, deductions would be allowable under section 162 of the Internal Revenue Code if other limitations, such as the passive activity rules, did not apply), Is conducted in anticipation of starting a trade or business, orInvolves research or experimental expenditures that are deductible under Internal Revenue Code section 174 (or that would be deductible if you chose to deduct rather than capitalize them).

Despite the cash flow seeming "sexy" your capital expenditures can eat away your profits and you will typically experience more tenant issues here than most other properties.

For example what do you think the rate of inflation or cost of living is likely to be, what will your annual rental increases be, what do you think the capital expenditures will be and when do you think you might make them?