All private sellers are in the same position.
All you can do is add a small amount onto the starting price to allow for packaging, printer ink etc. and use as much free packaging as you can - I never throw a box away and scrunched up newspaper is good for filling voids.
As for your time - as a private seller you shouldn't really expect to earn from Ebay in your free time.
I know if I paid myself for the time I spend photographing and listing items, let alone packing and posting them, I would certainly be well below the minimum wage!
"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Søren Kierkegaard, Danish philosopher (1813 - 1855)