Need help with making this deal work with my dad

[Marc Young]

My dad just moved and is renting out his house. Him being older he wants nothing to do with being a landlord. He wanted to sell but didn’t have enough time while buying his new home. He offered to sell or just add me on to title and take over the loan. All he wants is cash that he would get by selling the house. The goal is for me to get on title and take over. I want to continue to use this house as a rental. So here is my question. The equity is 100K that I don’t have to cash him out. Is there a way to do this? I was thinking of getting a personal loan and use the $ that the tenets pay to pay off the personal loan. It’s $800 a month. 

After that loan is paid off I would have that cash flow, and the equity in the home. I am super new to this. Is there a way to make this happen?

Or any other ways to get him his cash and me to take over his loan? 

Thanks for the help!