That's a shame, @Daniel Ryu .

Documents are lost in the mail all the time, what a shame...

To be safe it'll be better to rent for 12 months to show that the rental was not a sham.  

It would be a shame to have an unsuccessful flip and have to go to your father and say "well sorry."

That is a shame. 

I am ashamed to say this but previous tenant was paying less than $1200 and I was paying the water but tenant was there ~10 years.- 2/1 ~700' (January: Moves-in in the middle of January, real nice unit): $1500 paying full utilities. 

The devil is in the JV agreement, your legal council and of course how things are handled when the deal goes bad.No doubts that a sham JV with a grandma's IRA and taking 90% of her assets is still bad for several reasons that it doesn't meet my just now invented gates that a JV must jump

Some advice a mentor gave me awhile ago on starting negotiations is "If you aren't ashamed of the offer you submitted, it wasn't low enough" Sounds kind of cutthroat I know, but if they accept your first offer, that means you offered too high.

There are 3/2/2 brand new homes for anywhere from 50K-100K all over the place, would be a shame to pass the opportunity up longterm.

:)BTW, if anyone thinks they can buy furniture or have any other transaction within a reasonable time frame of a RE settlement without disclosing it, better think again, it can be looked at as a sham transaction.