RE  Mortgage banker etc.2. criminal and credit back ground checks with redacted personal info IE SSI. but you want them to know your not an ex felon or did not pay your child support etc.3.

Seems I could be paying a lot of money to own a lot of nothing.

So that means if you're living in it, you are not hacking for free, you're paying your fair share of the rent and some of your tenant's rent.   

Additionally, I will ask them to pay $75 per horse for pet rent, so it will increase the monthly rent by $150.Please let me know if this sounds okay, and if there are any other steps we need to take for tenants with horses.

I would encourage you to go the legal route instead of trusting the tenants word on their move out date if you are skeptical. 

@Henry Clark I think getting over the trust factor is the biggest barrier to clear first.

Don't pay any extra. 2.

If I sign one of these contracts to get the rehab done and then rent my place out, does that cancel the contract or will I be stuck paying for electricity for a year even after my future tenant moves in?

Fees may also be financed depending on the LTV Goal is long term and to pay off some bad debt. 

First time home buyer programs to pay for downpayment closing costs and renovation How did you add value to the deal?