Buying into fathers property

[Stuart Nebeker]

Good morning, My wife and I are beginning in our journey. We have been saving to buy a multi family to house hack. Then my father in law approached us with the offer to buy his property for what he owes. Property appraised for $375k He owes $135 It needs about $10k in repairs and updating. He wants to give us access to the equity. That way we’re not struggling with it after he passes (probably many years away) My questions are: What are your recommendations on doing this as safe as possible for all involved. Would you recommend just my wife buy in and keep my name clear from the mortgage.