Your marketing costs will be minimal; door knocking, phone (use Skype), and gas. 

I'm europpean and I read everywhere that to attend to this exam, one must provide a valid SS number which obv I dont have since I'm a foreigner.

I am considering replacing a split system air conditioner/furnace in a 1000 sq. ft. 3/1 rental home with a new 2 ton AC unit and a 70k BTU gas furnace.

FYI- It is not the responsibility of the landlord to make sure the tenant pays the electric/gas bill  Ironically, Air Conditioning is not required. 

I will keep you posted regarding the progress of my project. yes my job will be a full rehab ..I can imagine knocking down some walls to open up space looking for a more modern layout ..moving electricity, refinishing/putting new flooring, gutting kitchen, new cabinets, counter tops, full paint outside/inside ..possible new deck, yard, possible cosmetics in the basement (new carpet, finish walls etc) ...properties selling for under 50K in my area are needing all that ..I hope I will not discover too much while opening walls. most of those houses are winterized with no utilities running ..so once I switch electricity/gas/water on ..lets see if the thing will not fall apart ;-)

After I drove to the house with my truck loaded up with supplies to repair a floor and wasted a ton of money on gas, I find that a few peel and stick tiles had been damaged by the tenant.

I'm sure you can pick apart my scenario, but I think the idea is still valid that you have to give an investor incentive to trust your numbers if he is going to be trusting you with that much money.

Their "zestimates" have been close, but you need to do your own research to validate the home details regardless.I guess I just had to point out that they aren't all way-off.  

Those are all very valid concerns and, considering how worried you are about it, I personally would pass on it and look for something with better numbers.

Repairs: 3,010Utilities: 2,884 (tenant pays heat/electric/gas, owner pays water/sewer and trash)Taxes: 8,925From my analysis, using the 50% rule, at the $3,070 gross, would leave $1535 after expenses.