The home has great bones, but needs a cosmetic flip.

Additionally I want to keep reserves for small cosmetic Renovations as needed.

You’re the insider who can ring someone up, say you’ve got a contract on a property ripe for a cosmetic upgrade, and watch them perk up.I’d say give it a whirl, see how it feels, and don’t hesitate to tweak your approach as you learn.

After we completed the repairs (all cosmetic stuff) we handed it off to my property manager. 

Anyone know what this could be worth with a simple cosmetic renovation?

It seems that if you can find a good deal on the purchase price, are willing to do cosmetic updates (floors, painting, maybe a kitchen) you can get that 100-200/month cash flow.  

In our leases, we specify that any routine maintenance or maintenance costs under $100 are the tenant's responsibility.

Maybe at first you judt do cosmetic rehabs.

The few places I have been interested in honestly looked like they would require cosmetic work only.

If you routinely try to get the next tenant in so quickly after the last tenant, perhaps you can add a penalty to your lease for holdover tenants.