If it was just purely owner related versus the local area, then that could be a good buy.

No income or employment is put on the loan, it is purely rents  versus payments but you must have 30% for down plus closing costs, or negotiate that the seller pay your closing costs. 

If you want pure investment properties, you are probably looking at six units that go for 110-130k per unit that essentially will meet the 1% rule after you clean them up.

Basing my numbers purely on 60 min HGTV shows. 

I lived in my first house and rented it out when i bought a new one and am currently under contract on a new build tow house as my second rental/first pure rental.

You are relying on pure luck to get a deal with these methods.So again, why are you choosing these methods.

Many solid and popular books about rental property investing have already been recommended here, so I'll suggest some less obvious reads...Liar's Poker (Michael Lewis) for pure entertainment and a primer on how Wall Street supports liquidity in the housing market.Home (Witold Rybczynski) to appreciate the many different ways people want to live inside their homes.What Every Real Estate Investor Needs to Know About Cash Flow (Frank Gallinelli) to understand when and how to deploy key financial metrics to make better decisions.Handyman In-Your-Pocket (Richard Young & Thomas Glover) to be your own handyman and/or check up on contractors and subs you hire to work on your rentals.Have fun and don't forget that you'll learn more by doing your first actual deal than you will from all the books in the world.

.- Cost of Capital: when you compare your deal against WACC, this is return rate of your equity within an individual deal, after factoring out the payback of all debts and equity partners- Opportunity Cost: when you compare your deal against the opportunity cost of similar deals or any other investment you could potentially make, this tells you whether or not it makes sense from a pure return perspective to invest in one type of asset or another.Super basic example below where you buy a 10% return property, and take out a 4% loan at 60% LTV and gather equity for a portion of the remainder 25% of value @ 8% and then comparing the return of your equity against inflation and an opportunity cost investment such as the stock market returning 7%:Note that you compare the rf or inflation and the opportunity cost against your personal equity contribution. 

I would like to get pure cash flow of at least $100 per home.

Have you thought about selling and buying a pure investment property that will cash-flow?