I also bought some cheap stainless steel appliances from Sears (side-by-side without water/ice for $850, whirlpool dishwasher for $350, gas range for $700).

A lower rent allows you to skim off the cream of the crop. 

I once had to show a guy renting a room in my own house how to clean dried icecream off a countertop.

Things to make sure aren't missing when you move out:damaged or missing screensdamaged or missing mini-blinds and those wands that open and close themmissing lightbulbs (and one time, a missing light fixture)missing toilet paper holdersmissing sink stoppersbroken/missing towel racksmissing or dead batteries in CO and smoke detectors/missing smoke detectorsmissing ice cube traysmissing stove top burner rack(s)If a tenant installed a wall mounted flat screen, the wall repair will be charged to them.

I do understand that depreciation and building equity are also factors, but we are trying to focus on cash flow only, leaving the rest to be (hopefully) icing on the cake.

You can't count on something you can't control so appreciation should be icing on the cake.

(OK I know you can go back to the email and re-click their name)I know it is "nit picking" - I love the site design and functionality for a thousand reasons - this is just "icing".

Failing to install new concrete steps when the old ones have a 5 degree slope so a guest slips on ice and falls and beaks a hip, failing to turn down the temperature on the coffee pot after 2 customers complained and received 3rd degree burns(the McDonalds case).

(mailman, delivery drivers, the guys with the ice cream carts, etc...) be creative.

Not to mention stuff like extra materials when siding and roofing in the north (ice protection and insulated materials).