But you will act as the operator/manager of the lifecycle of the asset. 

Sounds like a tenant jerking your chain A 15 year old heat pump is near the end of its life cycle , maybe 5 years left .

Where in the life cycle are the major parts of the house ie roof, windows, heat and cooling, siding.

What economic life cycle should be expected, how long is the payoff and break even not just for tax payors but for those who choose to do business.

They will receive a 30% return annually for three years, which is the life cycle of the project.

Then you need to look at the life cycle of how this investment will play out in the long run should you sell it in 5, 10, 15 or so years and see what each point looks like.

I have owned furnaces for their entire lifecycle and each time, the "lifespan" has been shortened by "pleated" heavy filters.

Within 12 months we will have our own customer property management system that provides life-cycle integration for every property. 

One good startegy is to BRRR (or better BRRARR) a property - the financial sustainability of the approach over the life cycle of the investment is usually not pointed out sufficiently - a fully improved property will yield higher rent and require little money for repairs and maintennace in the first 10-20 years.

Typically I'd want to know what you and your dad's agreement for the whole life cycle of the property looks like, particularly how the rental cash flow is split and how the gains on sale will be divvied up.