A comedy or mismangement

[Francis Fitzgerald]

My father owns several commercial properties that have made our family want for virtually nothing. He's now 80. I want him desperately to retire. For the last year I've taken over the majority of his duties. He's an owner, but during his day-to-day he's basically a property manager, and boy oh boy does he poorly manage these properties. Foundation issues, massive infestations (roaches, bees, you name it), rent set at thousands of dollars below the surrounding market (we haven't had a single vacancy during the pandemic because our prices are recession proof...but also operate on permanent recession profits...), and he rents almost 80% of his units to section 8 tenants.  The roof of one of our buildings is basically slowly collapsing from rain and rot and his response is to say "let it fall and then we'll worry about it."  Every single work project he's ever touched (all with illegal labor and him as an unlicensed layman) inevitably corrodes the value of the buildings.  Even the renovations he does do (seldom) are not only of poor quality, but of poor choice and taste  (our buildings are beige with BLACK accents, AND SO ARE THE KITCHENS).  He's basically a slum lord.  

Did I mention all of his properties are in the most expensive parts of South Beach and one in Brickell?

And the worst part? He insists on collecting all 60 units of rent BY HAND. No matter how many times I ask, BEG him to change, he refuses. He won't let me install an outgoing mailbox in our buildings (postmaster general lock approved). On two buildings, they pay someone 100 dollars a month to collect the rent and then hand it to my father in person.  100 dollars a month.  Oh wait, that's not even the worst part!

Even though his building are all free-and-clear, but he refuses to let me take out an equity loan on one to buy another (the mechanism he used to originally grow to 10 buildings). He refuses to let me evict the amount of section 8 tenants that makes the building more profitable while maintaining a safety net. He doesn't even want to try expanding with a single condo, much less another commercial property or house no matter how cheap, and all the investing he would ever do would have to be localized to South Beach. Anything outside of South Beach (like mainland Miami, 2 miles away) he calls "long distance real estate investing." He has 1 million of pure profit sitting in the bank, not doing anything. Literally, its in a personal account. Its not even in a cd to counter yearly inflation. He claims he doesn't have 10,000 to invest in a 200k condo downpayment (me providing the other 10k with a FHA loan) because 1 million dollars isn't enough of a nest egg to loan out 10k. He now says he wants to "train" me to manage his properties, as if it would take a genius to pick up a phone and start building some relationships with decent contractors. His advice all boils down either to treating your employees and contractors like absolute garbage in the hopes that they give you a cheap price, or repeating really asinine, useless stuff like "when you have to choose between a high price and a low price for the same work, you choose the low price!" That's a straight up direct quote that he said to me with a straight face.

I'm a real estate attorney with a broker's license.

I have tried everything, and am out of ideas.  Like I stated above, I've suggested investing outside of South Beach and into Miami, investing in condos, renovating our existing properties, and each and every time I am totally shut down.  At this point, I'm not entirely sure that my parents didn't just win the lottery instead of investing in real estate.

Does anyone have any ideas/suggestions?

Edit:  My father has specifically stated that his age does not factor into their real estate investment decisions (the idea is that I would do all the work anyway).  They have not made any real estate transactions in the last 30 years.