Why do lawyers and judges insist on using a language that's been dead for 1000 years?

Have you seen this play out in practice where 5+ units trade at much higher than a 4 unit would just because of how they're appraised? 

When we closed, I hand delivered a pre-written letter to both of them detailing who I was, the rental rates the comps supported and gave them a choice to either break their lease early, sign an early renewal (their lease don't expire until 12/31) at a lower than market rate, or just ride out the rest of the lease and move in the dead of winter.

Now, I am ready to play.

You're playing the long game anyway.

There is also the chance that demand will be sucked away to less expensive areas, still waiting to see how that plays out, but I accept market changes are a risk one takes.

Your father should carefully consider how he wants his inheritance distributed in the future and how this $250,000 plays into fairness.

What role do you want them to play? 

This method of tax avoidance does have the side effect of you being DEAD!  

There are a lot of variables that come into play for LTV's.