They're not trying to make a quick/big buck off the first (and only) loan you do with them. 

your projecting best case.I would take 60% of gross for back of napkin and if it still works then do a deeper dive.those type of C class properties are going to have lots of turnover.. and your probably not going to turn a unit for 300 bucks. 

The halogen dusk-to-dawn street light that every landlord in my are uses is like $115 buck at a big box hardware store, and the bulbs last a pretty long time. 

It isn’t worth the 10 bucks you save having some random tenant doing the work for you. 

Save up, do side gigs for extra money, and then look at buying a house where you can fix up on the side.Otherwise, go to college, mature a bit, and make sure you save intelligently once you start working.

What could I be missing, or in this space, is it that easy to keep a couple hundred bucks each month?

But saying you have to work 6 months to even enter the market is obviously not correct, as you can buy an etf or mutual fund that owns the entire market for as little as 100 bucks, and without fees no less.

A few hundred bucks on the front end would end up saving thousands that it would take to clean up a potential mess.

I'm trying to avoid shelling out big bucks on an attorney.Do I need to register with Treasury? 

Cash flow of $1000.00 bucks a month or $40K to play with?