The most intriguing concepts I gathered was creating a land trust prior to quit claim.

I understand the concept of the velocity of money, but I also understand that increased debt means increased risk. 

In TX at  least, we have a concept of community property (from Spanish law) that means spouses typically own property jointly, even if only one spouse's name is on the title, for most assets acquired after date of marriage.

Don't know why it clicked this time, I had heard the concept 1,000 times before.

Honestly, it's too bad that the operating part of your dad's business does not carry with it some residual value of some sort with regards to that commanding a sale price.My hunch would be that this would be far too risky to embark on as a first go of things.Especially, from what you're mentioning this may have a large impact on the quality of your dad's retirement.If you have the funds and can structure something, the place to start would be to engage with an A/E firm to get a cost estimate generated for a concept building like you're mentioning. 

New electric, plumbing, full house sound system, CAT5 and cable lines throughout, original light fixtures and features, new open concept kitchen, master bath, finished carriage house, sports bar in the basement, etc. 

I'm unfamiliar with such a concept .

You have to grasp the concept of leverage and using other peoples money.

There was a push to consider Worcester for the commission, to me that means support for the concept. 

The same concept applies to any skill in life.