Treat it like you would your own house if managing yourself yearly inspection :- furnace/boiler - clean out burners (do in Fall to make sure heat is on in winter)- clean dryer vents- caulk bathtubs- change out thermostat/CO2 detector batteries- clean out gutters in Fall- while on the roof looking at gutters, take a look at roof condition - fix early- vacuum and clean utility room near any furnaces and water heaters (keeps dirt/dust out of systems, can extend life)- rinse water heater screens (can fill with dust and won't stay lit)- drain water heaters yearly - prevents sediment buildup and will extend life- change furnace filters (more often than yearly)- if in cold environment, turn water supply to exterior off before winter- take a look under sinks to check for any slow leakThis shouldn't take much longer than an hour or so per unit per year unless you find something unexpected, and if you do find something then good job catching it early. 

We are now taking out the plumbing supply lines which are copper/galvanized plumbing and changing to PEX as a countermeasure for potential leaks down the road.

Finding the right person at the county to supply this can be challenging and the cost for the list varies greatly from county to county. 

However, Salt Lake Valley seems to be a bit overinflated at the moment due to the lack of supply. 

Get rid of galvanized water supply piping - it will clog on the inside from rust build up.

.* You are missing general expenses such as legal, accounting, office supplies, software, etc.  

And since I buy in quality neighborhoods with a long history of strong demand, limited supply, and therefore rent increases, my cash flow per unit tends to go something like $100/mo first year, $200/mo second year, $320/mo third year, $450/mo forth year ... as opposed to being cheap and buying in less desirable neighborhoods where the cash flow goes $300/mo first year, $300/mo second year, $300/mo third year ... you are actually losing purchasing power in this case after factoring inflation.

One that is well known and has a large supply of employees, vehicles and assets.

Keep in mind the additional costs typically associated with short-term rentals - cleaning fees, supplies, furnishings, utilities, any short-term license fees in your local market, etc. 

Here are the numbers:Current value: $195,000Mortgage balance: $150,000P&I, taxes, insurance, HOA: $1,050/monthRental income: $1,600/month + 2% annual increaseAverage maintenance spending over 8 years: $100/monthLocal appreciation rate: 1.5%, very stableThe location is near a large university and hospital so there is a plentiful supply of responsible tenants (graduate students, residents, etc.).