Look up your states rules for activities requiring a real estate license. 

There are rules to follow!

How can I justify this purchase if the rents are this low?"

This is just my simplistic way of justifying/risking everything! 

Ironically most investors don't slow down to ask themselves that simple question but will prepare a multi tab excel spreadsheet justifying the reason behind purchasing the low barrier home that lacks fundamentals because it meets the 1% rule or is a good BRRRR candidate because that's what they are taught.

They typically have template leases and then you can add your own addendum with rules, etc.

Double-check comps to see if minor upgrades (like a walk in closet) might justify a higher rent. 

You have to run the numbers, watch out for saturation and unfavorable rules.

Can you pull off a BRRRR and 1% rule?

That is a 99.97% FAILURE rate.Yet you happily listen to those who tell you to do MORE of a strategy with a 0.03% success rate.Come on man.My mission here is to stop all these scamming gurus fill this industry with all sorts of crap to justify you spending thousands on lists, mailers, SMS.