i know what Rubs is, the only problem is this doesn't seem accurate it the tenant leaves all the lights on all the time, or leaves the water running by"accident"

The post office will do this for the tenant for no (or maybe low if they forward) fee.

The expenses seem light. 

I wouldn't say that I am extremely experienced, but I have don't a few deals, and since you are only looking for the first deal, I think I can shed enough light for you.From the time I decided that I was going to be a REI, to the time I was signing a contract with a seller was about 4-5 months.

If so how will you invest in improvements while the rents are still low, with only $32/mo? 

Unless you come in with a great loan like VA that allows you to put nothing down and get a low interest rate.

Also you will need a flange extension for the toilet waste pipe.Swap out the vanity/faucet, medicine cabinet, and/or light fixtures.

If your looking for a low doc, no doc, try velocity.

See Jay Z and Beyonce are just like regular Americans....except their mortgage is about $250,000 a month...They are reportedly billionaires but..I guess they wanted to lock in that low 4% interest.It would be pretty fascinating to see the financial records and income streams of some of these ultra wealthy folks.I wonder what type of real estate they might own besides personal residences if any. 

I'm looking for US markets that have a low cost to entry (SFR or multi for under $100K per unit/"door") yet have a strong potential for short term rentals.