Re your example #3, that kitchen has new cabinets, countertop, flooring, stove, microwave, island built, all new lighting, a half wall removed. 

It is the cheapest beach front property in the US for a couple hundred miles (at least).

Would you throw caution to the wind and jump in with both feet, using half of your savings to build up a real estate portfolio?

Now I've added amenities, I work 5x as hard on pricing, and 10x as hard on marketing, and I can charge half as much and still bring in a lower occupancy. 

The same deal falling onto the lap of an investor without cash or access to quick credit, would at best end up giving up half the profits and at worst get a small “finder” fee.1.

In that area, a half bath adds $50k of value (mission beach).  

I don't use them on the sale, however you will most likely need to offer the half commission for the buyers realtor.

Fyi, after my research on about a half a dozen property management companies I ended up engaging with Spinnaker in Tacoma mainly due to the fact that they don't provide any brokerage services just pure property management.

Bigger Pocket is a very good platform to find people to help you. if you have half a million lying around, then I would say spend some money for these courses. 

IF my income got cut in half, the first thing I would do is cut my expenses by a whole bunch.