With those numbers, we wouldn't be making much passive income each month when taking into consideration, vacancies, maintenance, etc.

PM's get paid to perform services which cost money: they do leasing, they perform maintenance oversight, they perform lease renewal negotiations, accounting, reporting, etc. 

Used my personal savings for the down payment and updating/maintenance.

Income is about $3100 monthly, a 1% deal, or $37K annually.

I am estimating that I am going to be able to raise the NOI roughly 6k-10k annually.

These are annual inspections, and do not  ride with your tenant's leases.If you want to SEC 8, you then have to get a second, different, inspection from SEC 8. 

Stated that he had people for everything but they were all busy ironically when things I wanted done to be done (basic maintenance, fixing leaks etc)property manager 3: the best of the worst.

When I run the #'s at asking price (which I think I can get for less), with 6% vacancy, 15% Maintenance & Cap Ex, & 9% Management fee (of which I plan on managing myself), I'm still cash flowing around $700 per month.With a nicely maintained bldg on a quieter street near Cherokee st, all the larger building systems updated, 2 solid long term tenants, and a good monthly cash flow  makes this a very tempting purchase for my first property. 

There was a lot of trapped equity and they were just starting to show some uptick in maintenance issues.  

If so, how do you manage maintenance or emergency issues if you are managing remotely?