It would, of course, improve after the renovation is complete and renters are in it.

Long-distance investing seems like it might be the better option in terms of improving the likelihood of finding deals.

The rent covers the mortgage, insurance, and HOA, but after paying for property management fees I am losing ~$200 per month, and have little for CapEx, vacancy, and repairs, although it is newly remodeled.Based on my research I know that it is not smart to rely on property value appreciation to justify the negative cash flow, so I have researched ways to try to improve my cash flow:Increasing rent is not an optionProperty management is necessary as I live out of the countryRefinancing doesn't seem very advantageous, my mortgage is a 30 yr fixed rate at 4.375% and the rates in Denver only look slightly below that for attached homesRecasting the mortgage seems like a decent optionUsing this calculator it looks like I could go from Principal and Interest of $1,541.79 down to $1,317.05, for a monthly reduction of $224.74, achieving a slight cash flow positive, if I invest $40,000.

Having the car loan actually improves your credit score.  

However, any money saved from sweat equity can be used for additional improvements or used to reduce your loan balance. 

Run it in a vacant space and open windows to ventilate after running before entering the space.

The only time I've consistently seen banks willing to go IO, especially in "weird" markets like right now, is when there is capital improvement in the plan. 

Some great ideas on improving my ad which I will adopt, thank you! 

Need to know what it was purchased for, how much was depreciated, improvements, etc.

It may work as a complementary strategy in which I can slowly improve my primary residence, buying slightly larger each time and renting the properties I move out of, but my concern is that if I'm intentionally selecting nicer houses for myself, will I leave a trail of negative cash flow behind me?