Most have money coming in on the first and few expenses(mortgage payment, utilities, possible repairs, possibly property management fees going out). 

So I have a property that cash flows 175 a month after mortgage, property manager, repairs, and vacancy.

Not going to be a fun day .I am lucky to a degree , I have the skills , knowledge and equipment to tackle just about all my own repairs .

.—(1) The landlord at all times during the tenancy shall:(a) Comply with the requirements of applicable building, housing, and health codes; or(b) Where there are no applicable building, housing, or health codes, maintain the roofs, windows, doors, floors, steps, porches, exterior walls, foundations, and all other structural components in good repair and capable of resisting normal forces and loads and the plumbing in reasonable working condition.

If you all know of any other factors that may affect my numbers in the Richmond area aside from mortgage, taxes, repairs, and CAPEX, please feel free to inform me.Thanks,

You said ARV is $390- how much in repairs does it need? 

Are you looking for someone to do full-scale remodels/flips, or more just someone on call to do any necessary maintenance and repairs that come up?

If they damage it while they're there, they pay for the repairs.

They do not care what you put into Capex/repairs and management (it just is a place they can hit and defending it is a waste of time).

The roofing company came out at least 3 times (about every month) to do repairs and leak never stopped.