Hypothetically, if I found a property with strong rental demand, the income could cover loan payments, operating expenses, and generate a modest positive cash flow.While this example involves upfront risks, the idea would be to leverage my father’s expertise as a contractor to minimize renovation costs, boost the property’s value, and create a long-term asset that appreciates over time.

Your PM will create new challenges for you that you will have to face. 

We put a sign on every property to: attract tenants, create brand awareness, and to help prevent scammers from using our properties as bait. 

If that's not an option, I would recommend he look into his state and local municipalities' rules on how to handle abandoned vehicles.

So the incentives don't truly align so you have to REALLY want to make it happen and likely do several deals to create efficiencies.

Thats insane the government is proposing these rules. 

You need to read the sheriff sale information carefully, or if in a county with a magistrate then read their ruling. 

At that time, my friend encouraged me to get into real estate with the idea of creating passive income and wealth in future (via appreciation).

I’m aware that thousands of notes with their corresponding Mortgages/DOT’s are packaged up and as a whole create an MBS (mortgage backed security).

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.