If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

I'm just here to note that an LLC does not offer a single tax benefit, nor does it allow any deductions that aren't allowed without an LLC. 

Educate yourself on how to handle marketing, screening, late rent, lease violations, etc.

Since I'm based in Tampa, I don't look outside and compare markets. 

In my market, I only have one vendor qualified for appliance warranty work, and the warranty companies paid him half his standard fee for each service call. 

We always run a market analysis before making a purchase for ourselves or our investors.

Purchase price: $270,000 Cash invested: $54,000 A multi-family upper/lower duplex in Ankeny found off-market during COVID.

I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

However, if your father inherits and later transfers the home, it should qualify for a step-up in basis to fair market value, reducing future tax liability.If the goal is to tap into equity, having the trust take out a HELOC may be a better option, avoiding California Prop 19 reassessment, which could raise property taxes significantly.