When I walked through I had to teach him how to be ready with a renovation plan and a detailed scope, which he didnt have, so each bid was what ever these cl hacks wanted to convince him to do, I instructed that market data and ROI rule all decisions, first figure out your selling competition and what the final product must be than the road there is self explanatory, so I fixed his scope.

Since the security deposit would be paid to both Parent and Child, and the parent is just staying - what kind of special language do I use to say that the security deposit is being transferred to new lease - but in addition when it is returned it will be made payable to "parent AND child" since they both submitted it?

You will need a local broker or appraiser to assist in finding that data, unless you have access to CoStar, Axiometrics or REIS Reports.

You could do a Contract for Deed with a wrap around mortgage and have it setup to automatically transfer the title after the terms are met.

If a potential borrower wants money and their property is not in an LLC or S-Corp, they can form one and transfer it to accomplish this requirement.

My goal is to transfer all of the principles and disciplines that I acquired from these different sports along with my military experiences to the realm of REI.  

@Kaden Prete A bit of a confession; two years ago when this thread started I was in the middle of a research project for an Asian RE fund whose NA HQ was in Vancouver so I had recently looked quite closely at the market to contrast conditions there with the markets we were targeting, thus I had most of that data in hand already.

Your parents could transfer their property into a trust, and name themselves as having 100% beneficial interest.  

I recently ordered a list of 4000 absentee owners names and addresses from mellissa data and im hoping some one can shed some light on what step I need to take.

These contracts historically transfer the entire right to sell the property to agent.