Who is going to go restock the toilet paper? 

If it pan's out it is a home run, but if it doesn't and you can't bank on it, you have to be okay with status quo as an investor.

If upgrading showerheads, toilets, faucets, and/or washing machines would cost you $1000, but save you $15/month over the next 20 years, I'd say it's worth it

Check their toilets, check their showers. 

Not buying is really a pretty easy way to get a nice return without the tenants, toilets or trash.

No toilets or carpets.

@Alfred Edmonds The second bathroom is actually original; we left largely as is to focus on the master and save on rehab costs (only repainted, reglazed tub, and replaced floor and toilet).As far as light fixtures - what would you recommend instead for reasonable ROI on a not-that-great area?

Most HOAs aren’t looking flush money down the toilet for fun.

Just like buying toilet paper, paying the gas & electric bill, etc.  

Of course my parents good intentions never panned out as tenants would just get what they could "rent for free" for as long as they could and when they were able to they would vacate in the middle of the night.