Actually, I'm trying to close a deal on another 5-unit place (without the insurance $ involved) on Gray (not the Dr house).Perhaps I should just use the insurance money for that.I agree with your costing as well - in fact I've looked at almost as high as $140 per sq ft.The zoning varies - my lot is R2 but the 4-units that weren't there were grand fathered in and I can replace the 4 units.  

I have no idea how insurance policy brokering works, but somehow that sort of magical thing happens when folks go through her (might help that her father is the Mr.

I was just a twinkle in my father's eye when the 30 year rate went over 18% in October of 1981.

The reason why i am pursuing this career is because my father passed up his own property management company to make sure he never missed any sports games us kids were playing.

Sherwin, I think your question is veering a little in the legal area but as a layperson (not an attorney) who also doesn't know the specifics of you and your dad's situation, if I understand you correctly your dad wants to help you and is willing to be responsible for the mortgage while you would own the property.Aside from getting your father a very well deserved Father's Day present, you should know that if you try to buy the property in the name of an LLC or trust then you will be forced to get a commercial loan which in my limited experience usually does not mean a fixed interest rate for the life of the loan (i.e., it will adjust periodically).If you're looking for a fixed rate residential loan, you'll probably have to close in your name and the mortgage will also have to be in your name BUT I believe your father may still be able to assist by co-signing the loan application and mortgage.

I know this because I deferred on my father's IRA so my children could get it and their distributions are based on their life expectancy.

My Q: My father owns his house clear and Free, about a year ago he open up reverse mortgage.He asked me about a six months, if I would like to buy from him for $150,000.

My father died in 2000.

I'm a divorced father with 5 children.  

I am a 48 year old married father of twin girls.