However, I have written in my leases that anything left after they vacate the property is considered garbage. 

Garbage/water - Owner pays? 

I know everyone is different although folks I know who sold companies  ( IE garbage to wastemanagement) etc.. most of the cash went into double tax free Grade A muni's or pay cash for assets they own and control. 

Garbage in, garbage out.

If a unit needs a new toilet, garbage disposal, painting, roof, boiler, etc., you don't want to sweat it.As you get closer to Boston appreciation has to enter the equation versus consistent, reliable cash flow.

We will also be taking out the lava rock bbq, refinishing decks, and adding a hot tub (which needs to be screened)  QUESTION:  That area next to the garage is where the garbage can is, and then there's a large storage area. 

My guess would be the owner paid expenses are probably higher than they're telling you (shocker, I know) and you'll find that out in due diligence or after you close when the tenants call you to let you know the garbage bill is due (or something similar.)On one bedroom units, with rents right at the market average, you might find your vacancy will run higher than 8.3% - but I don't know the market. 

Do you have to pay normal keep up with the Joneses expenses like water and garbage and everything else yes so that comes out either if your savings or your equity3. 

A decent property management company wouldn't put a tenant in this house before some 101 problems are fixed including:CO detectorsExposed live wiresBroken garbage disposalNon-functioning garage door sensorsThat's at least $500 before you can rent it and doesn't even address all the deferred maintenance.  

Here are the details:Purchase price and rehab costs - $80,000Rents for : $1425/moHOA fees - $225/mo (covers roof, water, exterior, and garbage)Insurance - $45/moOccupancy rate - 90% Depreciation - $2,000/yrOriginally I thought the property would be worth $115,000 - $119,000 ARVI had an investor who saw it listed as a rental send me a contract for $135,000 and close in 3 weeks (No realtor fees).