I have an in wall A/c unit in my personal home, and I'm curious if anybody suggests any type of annual maintenance to keep them running properly?

Thank you @Chris Wolfe 

Another $85 but this is an annual fee, not monthly.Will you need property management? 

Is there an existing annual lease or are they on month to month?

I am looking to invest in an out of state (I am in Southern California) property, likely 3-4 units.My goal is for an annual cash flow of about $5k after all expenses (including mortgage) are paid.

I have worked in multi million dollar homes doing carpets that cost more than my annual income, as well as section 8 dumps where tenants kept cat feces in the freezer for some reason...

A franchisee as example that owns dozens of stores and with many tens of millions in annual sales might generate a 9% net profit return.

*******THE NUMBER*********based on this spreadsheet - https://www.vertex42.com/ExcelTemplates/rental-cash-flow-analysis.htmlNUMBERS THEY ARE ClaimingGross Annual Income: $65,904 Gross Annual Expenses: $13,180 Insurance Expense: $5,720 Capitalization Rate: 6.27LONG TERM RENTALMONTHLY OPERATING INCOMENumber of Units 8 Average Monthly Rent per Unit - LTR 680.00 Gross Monthly Operating Income 5,440.00 MONTHLY OPERATING EXPENSESProperty Management Fees 600.00 Repairs and Maintenance 33.33 Real Estate Taxes 2018 records 1,095.00 Rental Property Insurance 480.00 Homeowners/Property Association Fees 0Replacement Reserve?

The lease features minimal landlord responsibility, two percent annual increases starting after the 5th year.

A partnership issues Schedule K-1 to each partner annually and you'll include your distributive share of income, deduction, and credit from the K-1 on your 1040.The other property will be filed directly on your 1040.