There's definitely a learning curve but as long as you're prepared for it all both mentally and financially, it can be extremely rewarding.Also starting up my first STR here in CA soon... just my ADU we're almost done with at our primary.

And I have already mentally done the gymnastics to be alright with $500/mo. in cashflow.

I think there is a chance that you don't actually hate your rentals, but rather, you hate where your mental health/stress level/amount of free time is.

The tenant is mentally unstable, didn't pay rent over a year, got evicted, forced out by the Sheriff and kept coming back to the property by breaking locks and lock picking.

If he recently lost someone in his family, he may not be in a mental space to process what you need.

They have a mental list of hard to collect rent addresses and they may help connect you and the owner. 

My mental calculus is that I want returns in excess of 25% above what the passive S&P 500 Index has returned historically (~8%).  

I like your ready, shoot, aim mentality.  

Part of the problems landlords have with low income housing is tenants that can’t afford the rent, tenants whose life’s are out of control, and tenants with mental health and tenants with anger issues.  

I am a regional clinical director where I oversee multiple facilities serving individuals with severe and persistent mental illness.