Also note that the upkeep sum of individual items is a major factor to take into account. If you have, for example, 4 pieces of armor (head, body, hand, feet) and a weapon with each of them coming with 500ish upkeep, you are likely to suffer at least a steady 500 gold everytime. And frequently, that will be 1000 and 1500. My advice is to keep the distribution low. Preferably, have only 1 item with high upkeep and use other items with 200-300ish upkeep. Also, I wouldn't even pay much attention to hand and feet armor.
I know you would like to use fancy gear and look fabulous in it. But financing good gear is a tricky bet that might drag you down. You will have to run after multi and valor all the time and it is not always possible to get it. I advise you to just accumulate some gold before you try to deal with high upkeep.
Another good advice is to play in lower gear and shift to better gear when you are on x5 or x4.
Also, here is my humble setup, with which I am doing quite fine and earning steadily even if I might spend the whole day with x1 from time to time.
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