I agree with every point you made through personal experience as an investor here in Charlotre and after helping hundreds of investors from high priced real estate areas like  NY.LA.SF.  

I have literally run hundreds of APOD calculations in my home state and getting incredibly frustrated.

I wouldn't spend time building a list of a hundred, just find a hot deal first. 

I was just wondering if this could potentially run me several hundred dollars or several thousand dollars.

I've never owned a rental so I'm having trouble guessing but I HAVE rented multiple house (active duty military I move a lot) and I've never seen my landlord dropping hundreds every month, usually zero dollars 95% of the time.

There are a hundred things you could do to find deals, but mainly, just start looking and talking to everyone you know! 

Thus far, my experience in real estate includes helping to renovate his first buy and hold property as well as just shy of a hundred BP Podcasts and a smattering of other REI research!

The few hundred a month (potentially) will be eaten up with one missed payment and/or problem.  

If the cash flow is only eight hundred a month it isn't a deal by any standard.

Forming the LLC was not costly at all, just a few hundred.