If you modify said note, you changed it.

Security deposits are for property damages, not to rents, it's usually in your state laws, I suggest you check and modify your lease agreement....better yet, have an attorney lookover your lease for other issues too. :)

This won't be a marathon post, but any of those factors may be adjusted or modified to come to a solution.

(I'll assume you are not modifying the structural components of the building...columns/load bearing walls) Sounds like you need a licensed electrician ...and you will be good.

I am an entrepreneurial-minded person and am always looking to adjust and modify ideas about and I think real estate is finally the vice I have been chasing.

I've not seen a dishwasher pan before,  but once tried to modify a 24" pan for an apartment washer to use under a dishwasher (marginal success).  

This is serious stuff and contrary to what the gurus tell you, until the act is repealed or greatly modified (which may come about at the end of the year), stay clear.

We're then going to hold it as a rental and use a modified BRRR strategy to buy another property.

You may need to modify your offer based on that

These options offer first dibs to owner occupant purchasers, so, again, if you could at least break even renting your current house (I'd consider the 50% rule and modify as appropriate - lots of info on that in the forums) you might be able to snag a great deal through one of these venues.