Correct, net after all expenses. My goal is always to have 100-200 free at a minimum but in the end the rental cashflow isn't to build monthly income (in my case), but instead to build equity in the property.

There was a period of time I did it for monthly cash flow, and when I did that I'd target different types of properties and target a different minimum free cash flow. But I switched my investment strategy to be one to maximize equity and property value, I've found this to be far more profitable in the medium to long term, but obviously doesn't provide the highest monthly income initially.