Yes. I have been fortunate to be profitable on all my rentals each year.
I also made sure to "buy right" as I call it. Which starts by running the financials through this basic property calculator I created in microsoft excel.
If the cash on cash return is not acceptable after factoring costs (mtg. maintenance, vacancy, etc.) than I wont even look at it. The calculator is out on the web for anyone to grab, you can grab it at ScaredyCatGuide if you want it.
So I'm curious how you actually evaluate cost for vacancy, maintenance, etc. I've been investing in real estate for about 6 months and it's so hard to predict when your tenants going to leave etc.