However, I lack experience in the USA market.I propose a hybrid investment model where the lender provides 100% financing for all costs and becomes a co-owner of the property.

That's at least $112k+ closing costs.

Often, these buyer lists are comprised of unsophisticated buyers meaning you are competing on terms with other suitors who are poorly informed on value, cost etc. 2.

There are two types of cost in development:a.

it doesn't cost a lot to put utilities and parking pads in or even entitle it or to purchase land. it's just a lot of work that no one wants to do. parks are hard to get approved but they are not expensive to develop. it's nothing but utilities and parking pads and an office. harder to finance too, but compared to apartment development or mixed use development it is one of the cheapest and highest performing assets because of reduced construction costs. 

Crazy.To be quite honest, if you don't have any experience at all, I would avoid AT ALL COST raising money.

Usually investment properties will want a 20-30% down payment in addition to closing costs, so it's not going to be a good idea in your current state.

They told me that I can ask to increase rent ( their website says up to 9.2%) after a year.

I would be happy to share some of my strategies at NO COST to those that are interested in connecting. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.