Start in your Drive.
Select the PDF, JPEG, PNG, or GIF
Click on Recent
Do not open the file just highlight the file
Select More Actions (three vertical dots)
Open With - Google Docs
The image will import first with the editable text below
The formatting will need to be adjusted. Lists, columns, footnotes, and endnotes will most likely not come through. You will also need to check to make sure all of the text is correct in the document.
It's like pulling a rabbit out of your hat. Magic.