Special Warranty Deed and Timing

[Brandon P.]

I have a very specific question regarding our first home's deed.

Here is the quick story: 

My wife and I bought our first place last year (July 2022) and are currently successfully house hacking in it. For this first one, our financing was through my father. He paid cash for the property and the deed is in his name; we just pay him every month. The question we have is, what is the best scenario for all of us moving forward. My plan is to acquire more properties this year, from a lenders prospective would it look good to have a house already under my wife's and my name or would we want to keep it under my father's name for the time being? Whatever we do, we want it to benefit us for the continuation to acquire more properties. The recording fees and special warranty deed made out to my wife and I would cost around $4700. We are willing to pay this, but the priority of when we pay it, is the more important question. 

Also worth mentioning, I have had a switch of employment, and will be going from a w-2 to 1099, this could and will change the way lenders look at me.

Should we keep the house in my father's name or switch it us? Even if you have read this and are unsure, but have a real estate lawyer or lender that might be able to help us navigate, I would greatly appreciate their info.

Thank you!