Self-Rent

Would this work?

1) Make enough money to start a business that will buy an apartment complex, and hold cash on hand
2) I rent it out to people, and give them the option to buy their portion of the building over time (eg: $1M property with 10 renters, each with the chance to buy up to $100k)
3) Return an approximate real estate market rate with a minimum and maximum to flatten out bubbles and return a portion of rental income less property upkeep expenses.
4) All money goes into a savings account that the renter is able to withdraw from at any time as long as they live there, and they receive in total, less the cost of repairs, upon moving out.
5) As property is bought back from business, buy another apartment complex and repeat.

Net effect:
1) Company operates like a bank, and would have to hold reserves appropriate to what they could expect renters to withdraw at any given time
2) Company's revenue would be keeping a portion of the total value of the home.
3) Renters have an incentive to keep the building and neighborhood in good shape
4) Renters effectively have the opportunity to purchase a condo with no interest payments, but always chasing the total property value. The faster they buy it, the less they chase, and the less rent they pay.
5) Means that if the renter could buy a condo, they should do that instead so they don't always have to chase the property value. That ensures that this program will continue to reach the target market - renters who have a desire and ability to own something. Should screen for this with applicants (non-paycheck to paycheck, but savers)
6) Could the business file as a bank so it is able to lend itself money to expand? No, because then it would have to cover interest on borrowed money. Just need to make enough to eventually start a lending portfolio as well.
7) Could the business file as a non-profit? Make enough to pay employees and to expand to new properties, and that is all.
8) Could this business be started by the government? Probably shouldn't be, but maybe there are some grants available.