I'm pretty satisfied not having to deal with hot water heaters, lawn care, the roof, etc. etc.

Here is the lawn care addendum we have as part of the lease "So based off of this, should I give them notice after I receive the last rent check that they either need to fix the lawn or they'll have to pay for it?

Taxes, insurance, vacancy, repairs, CapEx, shared utilities, lawn care, snow removal...At the numbers you provided, you are looking at a potential Cap Rate of 11% (assuming 50% of Gross Scheduled Rent goes towards expenses).

Also, to answer where I think we are in the cycle: I know this doesn't answer your question, but I feel like the market is artificially inflated due to the interest rates being so low. 

The lawn care and which appliances should be stated  elsewhere in the agreement.  

If you secure it WELL and keep the lawn clear you should be able to sit on it.  

The global economies have such weakness this artificially elevates the dollar.

There is low rental inventory and rent is artificially high because condos dominate the market (only20% can be rented in a condo building).

City enforcement will be a bit behind citing people for unruly lawns.

There's nobody to tell us what trees to cut, what colors are acceptable to paint the home, when to mow our lawn, what kind of vehicles can be parked in the driveway, where to place our garden hose and trash can, etc.