So I put together an email that I send out to all of them describing how it works. 

Plus, living in a house that is being renovated is an experience I simply cannot describe to you.

What you're describing is some kind of perpetual, non-callable debt that doesn't have a stated interest or discount, doesn't obligate the debtor to make payments, and allows the debtee to share an agreed upon percentage in the profits of the property. 

Its an actual health problem from what you describe, not just a theoretical burden.

@Dave Godfrey  I've been on the contractor side of several JV deals just like you are describing. 

What you're describing is a gross lease, not single net.

Realtor's operate under a stringent set of licensing and ethics requirements - doing what you describe would be grounds for having their real estate license revoked.3) No - you need an "or assigns" clause in the original contract, so this is something you would want to do in advance, not afterwards.

In the scenario you describe, you would be paying income tax on the rental income, assuming it is positive.

I let the tenant describe damage and we take pictures of anything noted.

It's a great combination of networking to meet all of the ppl you described, education (talking about Opportunity Zone investing tomorrow) and there are a ton of vendors, including lenders.