Hey @Dave MeyerInterested in hearing what your typical arrangement looks like.Is there upside for the owner in the form of revenue split, above market rates, etc?

Continuing education is essential for you and helps build your confidence. 

Regarding your question about the deposit, typically, it is best to address the security deposit issue after the current lease expires, laws do not require tenants to sign an addendum for anything during the course of the current lease. 

Depends on how long it typically takes to rent a house in your market. 

Do general contractors typically provide a fixed price or labor only bid with flips?

Rentometer for automated valuationsCheck current listings in HotPads, Craigslist, Oodle, newspapers -- if 5+ unit try LoopnetCall For Rent signs you see in that area of townCheck out property management websites; they typically have all of their available units listed onlineOne way to get a baseline is to check Section 8 government website for the areaHave a realtor run rental comps for you

Think past the typical or the facade.

Your tax advantages in such deals are:1) Pass through depreciation of the asset during the holding period.2) Pass through write off on mortgage interest during the holding period.A properly structured deal should make any income during the holding period essentially tax free.

Typical average properties are getting 5, 10, 15+ offers within days..  

Not typical for investors to get the cops called.