There are ways to optimize but i would not put too much calculations on it. 

Hiring a PM will make it further cash negative.Most homes purchased to be your home are not optimal as investment properties. 

@Jordan MoorheadWay to optimize profits!!

Obviously, there's a lot more to landing page optimization that didn't dive into, but I assumed I gave you enough information to go out there and get it done.

I think in most cases it’s better to have rentals local to where the owner is located frankly for logistics, but that’s not always optimal in other ways.That’s why I make periodic in-person checks to my rentals instead of just relying on the property manager.

Someone experience with FB ads will know how to optimize the ads and make little tweaks that newbs just don’t know how to do.

Turnkey typically means single family or at least small multi and totally optimized.

Seller financed deals would be optimal but hard to come by in my areas of investing interest. 

I can't provide a form letter, but here's how I start these negotiations:offer slightly less than what you consider an optimal solution in terms of price, duration, rate, and down payment.

You will want a CPA to do some tax planning with you to make sure you are set up optimally for your situation from the start, and you will want to work with an attorney to talk to every contingency and have it addressed in an operating agreement.