After you factor in taxes, property management (if needed), repairs, vacancies, utilities, whatever is leftover is yours to keep.

I’m looking into a 6 family in NJ that is on the market for 550k...the gross annual rents are $83,400...taxes are $14,489...insurance is $2,600...utilities about $2,000...repairs and maintenance about $5,000.

Don't take the wholesalers word for it.Second, make sure you run your own construction people through the property so you have a realistic number for repairs.

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

But, for those readers who won’t go the extra mile to do a deeper search on techniques, here are a few off the top of my mind: Craigslist - They’re all over here, it’s like a piranha pond in my market.

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?