I invite you to perform the exercise and find what your cap ex allocation should be.certainly $50/month for maintenance/cap ex and misc is not enough and this property is definitely cash negative when properly allocating for expenses.  

Than maybe with adjusting the vocabulary to REALIZED performance and UNREALIZED performance, we can start correcting understandings. 

Start by leveraging your skills to identify undervalued properties, perform cost-efficient renovations, and build sweat equity.

Some of the best opportunities can be found in other regions, particularly in markets known for strong rental performance, stable property values, and tenant demand.

I don't know about your idea of maths but to me that says Midwest performs at 2X of CA. 

we do have to remember and I know its 10 years ago and many on this site are post GFC investor and know no better.. but were do you think all these deals came from... back in 2010 to 2014  it was not from well performing assets it was from stressed and failed owners. 

This service is provided by several authorized 3rd party companies.2024 update: If you file more than 10 1099s, you MUST eFile them now.Here are some of the online 1099 filing companies, and you can easily find others:tax1099.comWageFiling.com1099online.comThese companies charge under $5 per form.

@Nicholas Dillon If you sell a property and perform a 1031 exchange but do not reinvest all the proceeds, the leftover portion (called "boot") is subject to taxation.

and maybe change the water once or twice per year).I always consider 40% of what sales person say, matches the actual performance.

It reminds me of the Charles Schwab study - their best performing retail investment accounts were from dead people that never closed out the account.