@Alexander F PollockYou may lose a tax benefit of a stepped up basis for capital gains purposes transerring interest away from her parents.Also consider conducting a judgment searches on all parties to the transaction to confirm there will be no title problems for would come up when the LLC sells in the future because you will not have title insurance to cover prior owner issues.

Wanting to lean on some of fellow investors experience when it comes to technology that can help provide leads/ gain some insight into leads.

With suburban spots around Houston and Dallas gaining traction for affordability and space, how do you think the trend will evolve if interest rates continue to rise?

There are pros / cons of whatever way you go about it plus a lot of unknowns.If your dad owns the place and it appreciates a lot and he decides to sell it, the gain can potentially be tax free which you wouldn't have the option for if it was a rental.I personally wouldn't do business with family.What if you own it and he rents it from you and you both have a disagreement on rent increases?

Value $900,000; $600,000 debt, $200,000 basis; 7% sales commission, only him- mother is deceased- $250,000 cap gain tax free, $70,000 sales concessions or repairs, capital gain tax on $550,000 less costs,  etc etc.  2 out of 5 year rule, can he live in other buildings?

@Sam Peterson You can utilize different online companies (web, phone apps, etc.) for this but if you're new to REI you could gain traction by making your own.

Depreciation helps offset this, but be aware of potential capital gains tax if you sell the property in the future and depreciation is recaptured.

I want to buy him out because the property has a 3% mortgage rate, has gained 100k in equity the last 4 years and cash flows 1k a month.

Is wholesaling a good first step for gaining experience?

A lot of other markets 20 years from now could be ghost towns with little demand.But on the flipside, that safety/security comes with lessor immediate returns, as is a normal balance with investments (more risk traditionally equals more short term gain potential).