When I do the command ./rustserver mi
All I see is the oxide mod. Is this the latest umod?
If not how I do fix that since I don't have the mods_list.sh file?

I'm not sure what tool you are using, but I'm assuming it is LGSM; which isn't developed by us. There are no builds for uMod yet though, only Oxide which is the old name of the project.

Does that mean I don't have to change anything? 
Will it download the most recent version of oxide?
Btw, I am using LGSM.

I'd assume so, but like I said, we don't develop LGSM, so I'm not entirely familiar with it.

Alright. Thanks :)