But I will be honest, the rentals I have been added the last 2 years here in DFW have negative cashflowed.

Most contractors here in California will charge their hourly rate and possibly ad on a smaller charge if they need an assistant.  

To do a Subject To is to take on added debt.

I added value to this property by preserving its original architectural features while modernizing the interior.

Nate @Nate Marroquin   You can use the income from your tax returns on the current rental adding back your paper loss (depreciation) and add back the mortgage interest, property taxes, home owners insurance deductions on your tax returns. 

What an investor gives up though is tax bene's and the chance ( well at least proforma wise) that you bought at X cap rate and can sell at Y cap rate and there is a big profit that is added on to your returns. 

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

I have yet to have one late charge added to a tenant.   

I havent relocated for opportunities but have some experience with Mid-term rentals - For MTR I would find major hospitals and then search the houses around them, if they are priced really high / numbers wouldnt work, eliminate that market.

A client of mine in Maryland added smart home features to their rentals and boosted rents by 12% with minimal investment.