I was looking at the rental agreement and it states that the outside maintenance is to be taken cared off by the tenants.

(I also go down to Palm Beach County because I routinely conduct certain other business in Delray Beach, and Boca Raton).  

I guess you mean that most properties there don't cost more to service (mortgage, insurance, vacancy allowance, cap ex, maintenance, management, tax) than half of the gross rent.

Taxes, insurance, maintenance etc. 

Myself and a partner are currently about halfway though our flip.it was originally intended as a buy and hold but we decided we would be better of to flip it due to it not being entirely suited as a rental (on a huge yard that needs alot of maintenance and a little out of town).so we decided to sell it,and I will but my half of the money into another property,but rent and hold it.Anyway were currently unsure about some things and i thought it would be a good idea to come on here and ask.when we are finished,the house will be a 3 bed,two bath with a finished basement.However,we are really stuck on how much things we should update.we are in Northern BC,Canada and winter is coming fast.My partner (matt) wants to just finish up ASAP and just get it to OK standards (put in the new floor,paint the old kitchen cabinets,finish up the bathrooms and what else needs to be done and put it up for sale during the winter.Problem is that houses dont sell very fast here in the winter and can sit on the market for a long time which dosnt look good,and you tend not to make as much on them.Also...the house has stucco which is ugly as sin...the house was built in the 70's (and im sure was very stylish back then!)

Any deferred maintenance issues? 

If the company manages correctly (money, maintenance etc.) the grounds and buildings are kept up and this will also add the desire for people to want to move in.

That is part of normal wear and tear, and basic maintenance of a home, and adds no value. 

The balance on the condo books would have been accumulating while only a years worth of maintenance would be collectable from the bank, but from a non-bank party, I believe they would have to pay all of the association fees that were in arrears.

This doesn't include insurance, maintenance, cap ex, leasing, accounting, or any other expenses!