@Mike Fletcher There's the occasional fixer but those sell with multiple offers.

Other than five minutes a month of accounting and an occasional phone call with my property manager or a contractor, I never think about my rentals.You say that you can't go sit on a beach while the money comes in, but that's pretty much what we do.  

I utilized this very method for well over 30 years - not earning any assessable income during that time and periodically either borrowed against appreciated assets and/or occasionally cashing in some gains where there was no tax on the profits (usually a residence)Some Life Insurance products can also be used - in conjunction with retirement planning.

Yes I occasionally had to spend money on repairs and manage a gardener from far away, but at the end of the day, the pros were much more than the cons.

So far I'm reading books, attending seminars, REI clubs, going to the occasional open house and learning from Biggerpockets material like webinars, podcasts, forums, and blog posts.1)  What else could I be doing aside from learning, networking and saving money?

Sure you'll have the occasional rotten egg, but most of the time you won't. 

How could I go about investing in updating my rental unit (obviously I would base how expensive the updates are on the rent I think I could get, I wouldn't be too extravagant), in a way that gives me the most benefits tax wise?

While overcharges dur happen occasionally, that is not how a reputable company would typically handle it

Some people would be willing to not life an extravagant life if they could stop working a 9-5 sooner while others may want more money to spend towards material possessions, travel, etc. 

I'd say your diet is probably more important albeit the occasional heart rate increase and  dopamine production is extremely valuable also.