Long story short you have to know where you are going before you ask someone else for directions. 

This property is intended for long- term hold, providing stability and growth potential.

Like dead heirs they can get releases from, or mistakes in the contract made by an agent/buyer/seller. 

And second, I am thinking of creating a contract that lays out the details of the amount of equity I earn on the property before we close on the property but is there also a way of putting my name on the deed at closing that would act like a second guarantee that I earn partial ownership of the property via sweat equity?  

Lenders will typically only give credit per the terms of the agreement and any realized appreciation while renting will not be considered down payment (although will still benefit the renter/buyer greatly) 

Over time, the benefits of house hacking, including potential rent increases and the ability to live affordably while building equity, can far outweigh the initial concern over under-market rents.Keep your focus on the long-term gains, and you'll likely find that house hacking is one of the smartest financial moves you can make.

By "better", I mean in terms of (1) return (2) licensing restrictions, and (3) state law. 

Im looking for a list of delinquencies from a few years where theres a chance to get properties under contract.  

I rent on my terms and my conditions, period.

We live and work here in the Smoky Mountains Vacation Short-Term-Rental Market, but I would be glad to answer any questions you may have.