Taking over payments

[Richard Curi]

Hey everyone. Super noob here looking to pursue my real estate investing career and have already started reading more into it. If it’s not too much trouble I’d like some advice on where to start with a home that needs severe rehab. The thing is it’s my fathers house and he can no longer afford the mortgage and wants me to take over to rehab it and put it up for rent. Another thing is that it’s the house I was raised in so the property has some sentimental value and I don’t want to lose it either. Besides the rehabilitation factor would it be wise to take over payments on the home? And would I be financially be burdening myself?

[Jamaal Taylor]

More info needed to assess the situation. Can you handle a reno? Small, medium, or lite reno? How would you finance the reno? Are you planning on filing any documentation like subject 2? What will the property rent for once fixed? Are You Single or do you have a family.