Maybe there's something we are missing here.

@Drew Sygit I think you're missing the point. 

Account Closed  you are missing expenses from your examples (PM, CapEx etc)  and your vacancy rate is low - it should be more along the lines of 4-5% 9 (what mortgage brokers will use).... 

I text him numerous times to pick up his remaining stuff but he doesn’t pick it up and I miss the bulk pick up that month.

I might be getting ahead of myself, but am trying to envision what the business might look like in ten years or more.Thus far I have the following, what am I missing?

You need (at least 40 or 50 sometimes in my case.) of individual “reasons” for income and expenses (property #1 rental income, #1 management expenses, #2 income, #2 management expense, #2 plumbing repair, #3 income, #3 management expense #3 landscaping expense #3 commission to realtor finding tenant, #4 income #4 management #4 landscaping…etc etc..) this will then either equal your deposit or have a last line that shows the amount you are out of balance where you missed an item or entered an incorrect amount.Doing this let’s you produce a report of any property’s  income or expense over any time period.

Yadda-yadda.This is not an inclusive list so I may have missed something important to you.

There is furniture and stuff in the way and you may miss things, plus they could do damage between when you did the inspection and they actually move out.If they are moving out at the end of the month, tell them you can do a pre move out inspection, but put it in writing that as their belongings are in the property, you may miss things.the link provided earlier for California, says you can do an initial inspection, but it is also followed up by a regular inspection after they move out. 

I have had no missed payments, no late payments, and always pay more than the minimum.

Good catch @Bill Brandt, I missed it....