However, if you zoom out a little, you can see they did poorly: dipped as much 30% and in 5 years only grew 20-30% (NOT annual). 

thanks for posting this, it's amazing - basically took investors money and paid out as dividends to old and existing, just like Bernie Maddoff did, he owned very little unprofitable real estate simply as a fake patina of a business to drive the LPs to invest from pg 3 of indictment"Each investor in the Fund also received a written guarantee from NRIA of an annual return of at least twelve percent per year for a period of five years plus a full return of their investment, or else any shortfall would be paid by NRIA."

@Nickolas Wolfe  You may not need REPS status to use the STR bonus depreciation against your W2 income.

Markets obviously vary, but 3-5% annually can help give you an idea.  

We typically aim for 15-25% annualized returns for instance, as a mix of cash flow and appreciation.

I would also suggest annual property inspections.

If the LLC is an operating business..... lets say providing roofing services with annual revenues that are consistent or even better increase year after year for 10 years, lines of credit or other lending options might be available that aren't available for a new business. 

10% annually or monthly?

Getting even a 1% monthly (12% annual) return on rentals right now is pretty tough in a lot of the country. 

They also require annual licensing so be sure to include that in your operating costs.