So, this tenant's budget may well be based off of $850/month rent meaning they may have other obligations such as a larger car payment that they took on because they felt they could afford it.

Create LLC have dad lend money to LLC, use this loan as down payment on larger property(s) as your dad’s loan is NOT secured by real estate but by the LLC.3.

Good points on weighing the trade-offs between smaller towns and larger metros.

I really do not want to back out of the deal, but curious if I could negotiate a reduced price or something of the sort.

Our team works with a lot of out of state and out of country investors and most state that Pittsburgh is one of the best markets they invest in due to the more predictable nature of our market (we don't have the bubbles that many of the larger cities do in regards to housing surges and bursts).

Education on financing and scaling, such as DSCR loans, and partnerships can help you take on larger projects.

If it’s a larger or commercial property, consider conducting an environmental check to assess potential risks like contamination or flooding.It’s also important to request a full property disclosure from the seller, which may include known issues or defects with the property.

Consider creative financing options like partnerships or syndications for larger projects. 

They've had time during the week to get things sorted. 

Millennials will be planning retirement and they are a larger generation than the Boomers.the US economy will have hit at least 2 new major economic crisis.