Being a broker is more than just shopping for the best deal.

I have a lot of personal experience with BRRRR—both from building my own rental portfolio here in Memphis, TN and from helping both local and out-of-state investors successfully scale their portfolios using this strategy.One of the biggest advantages I’ve been able to offer my clients is structuring deals with hard money lenders in a way that allows them to acquire properties with less than $10,000 out of pocket in most cases which results them in massive cash on cash returns!

As I understand it, Florida does not have an inheritance tax on property, and the federal inheritance tax is levied on estates greater than 12 million dollars. 

Since your dad is a contractor with access to affordable labor, the renovation costs could be lower than average.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

I did look to see that in Jersey City people must apply online rather than in person, and there is a page with “What I can do with my residential property?”  

Couple quick swipes of the planer, cleaned up the sides to get rid of the bumps, nice and smooth.

If the house is older than 15 years old and n ADU is added, it can become rent controlled.

Then I would do a low risk flip ( rehab less than a few weeks) for hopefully a 10-15% profit, repeat until I have a nice down payment and am sure that I would be able to qualify for a refinance, then buy a buy and hold then continue flipping until I get to the next buy and hold - in theory, the time between each property should decrease as I should be getting capital from the buy + hold as well as I would already have my reserves built up.

We did have one contractor re-pave our driveway but other than that, we haven't had any actual construction work done on the house, so I haven't used any contractors.