However with age comes need for new appliances, furnace, water heater, ac unit, and maybe even some cosmetic updates.

There have been numerous posts about cabinets, counters, appliances, etc...I've read a lot of them!  

Stainless steele appliances.

Is that because the HOA takes care of all the “big ticket” items such as replacing the roof, HVAC, paint, carpet, appliances, etc.?

I always supply the appliances for my units and you should not have a problem to find a good used one on kijiji, facebook etc. 

Appliances are new but the kitchen itself is very small.

I updated all the lighting, put new sinks and countertops in the bathrooms, and kitchens, (nice backsplashes), I put brand new stainless appliances in.

Carbon detector if there are gas appliances in the building.Your area might be different but this is the standard requirement.Good Luck.

.-10% of general contractor fees for 3rd party repairs (HVAC, appliances, plumbing, electrical, roofing, etc.).

These cabinets have been quoted right now are plywood construction and maple faces in color with slow close, drawers and doors.only looking at $2k for these if we don't go with the left uppers.What color appliances hold up the best for your rentals?