I have 200k in equity...how do I use it?

[Nathaniel Porter]

Hello, my name is Nate. I live in Wisconsin, small business operator. I'm new to BP, and real estate investing in general. Here is the bottom line: 

My father owns a large commercial property with a duplex on the same parcel. The whole parcel values at approximately 300k, and he has a little over 60k left on his mortgage for the property. He is signing the whole thing over to me, mortgage included. I know I can find a bank willing to give me up to 80% of the value of the property if I wanted to get into real estate investing.

My goal is to make 60k/year after expenses. Obviously more is better. But I want to be as close to hands-off as possible and just collect a check. I still have a company to run, it would simply be nice to have a passive income building upon itself in the background towards retirement. 

Thoughts, ideas?