Welcome to NYC and Welcome to BP I am sure you will enjoy both equally 

My belief is that the realized that they had access to the education and to join me in the Partnerships but because they failed, it is embarrassing for them to NOT have made anything close to what we achieved in the last 10 years.

At a ten cap that equals $200k valuation.

In the event my house burn down, all I want is the reimbursement equal to the house's market value.

- but zero borrowers per month complaining when the old model comes in higher, which happens equally frequently), so it's not going to have a significant immediate impact on that front.

All things being equal, my first preference is a block construction home on a slab.

Do you mean that you are looking to pull cash out and give to your father so you both have an equal investment?

@Alina Vengerov conventional loans don’t require 20% down, contrary to popular belief.

Also, my understanding (as it stands now) is that you must "substantially improve" the property by investing an amount over 30 months equal to your un-adjusted basis in the property at the beginning of a 30 month period, and that 30 month period can be over any point of your overall hold period.This provides the opportunity for significant planning with regard to investor risk and uncertainty.Also, this is subject to change and simply an interpretation - I could be wrong as there are quite a few moving parts and many more that we are all seeking clarification on. 

Your assets are light for a deal this size to qualify.How debt works and ratio's involved will likely depend on what going in cap rate the income throws off with purchase price.There are hundreds of items to analyze when looking over a retail property and takes a lot of time and due diligence.The items listed for roof, parking lot, etc. can equal in to the six figures in costs so very substantial to repair or replace.