I wouldn't worry about it too much, it conveys respect, or is meant to.Work with an attorney to develop a general contract with boilerplate language. 

This ranges depending on the loan/property, but assume another $150-$200 a month. 

Kitchen offers brand new stainless appliances, incl. gas range & fridge!

I would just like to purchase homes that are around the $120,000 range and in non flood zones to keep our costs down.Thank you

If you have a price range and plenty of downpayment you can look almost anywhere.

You only mentioned what the rent ranges are which doesn’t help much to estimate cash flow since the reader doesn't know the area/ address or (most importantly) the rental history. 

You can still get good tenants for houses in that range - once you start going lower than 100k though you have to deal with less than the ideal tenants. 

That one was for $150k but I just called my contact at the bank and asked if they had a minimum because our next deal would probably be in the $40-$80K range she told me "it just has to be in good condition"

May I respectfully ask what the average cash flow on your properties for you to view $250 or more per month an unacceptable number?

If so, I would very strongly consider the merit of taking on $300k in debt in order to achieve this level of earning potential and perhaps explore cheaper ways of attaining this education.Rather than thinking about how you can mitigate a poor financial decision through real estate, I respectfully suggest that perhaps it's better to not make the poor financial decision in the first place.