I'm not sure what the technical name for this is, but I'd describe it as a buyer doesn't have enough cash for a down-payment, so they find an investor who pays for the downpayment and gets an equity stake in the property,  but the property is paid for and owned by the person moving into the property.

I hope that makes sense how I am describing this.

I have a rental which is similar to what you described-a single wide with large additions on their side done with traditional framing.

We want experienced companies. 9- Can you describe your process for managing a moderate property renovation?

A city like New Haven is very easy to describe.

I love these two towns, I don't think the margins are asgreat as you describe but all the other points you make are very valid. 

That said, a solid business plan that describes what specific type of asset you're looking for and how it will make money will help tremendously.

You may also be interested in this post describing a pretty creative strategy to get a refinance in under 6months: https://www.biggerpockets.com/... 

Non of these items you described are not for rent, therefore they are not rental income.I agree that I don't think a security deposit should be included unless you keep it to cover damages.I see why they included the utilities that are reimbursed.

I think what I am describing is passsive investing out of state.