The market absorbed -19,000 square feet in Q1, indicating slightly negative demand.

Interesting concept on the assumable mortgage front.

You will overpay for property management for one property and when a furnace breaks or your plumbing line is shot you will be net negative for ten years.

Buyers are reading concepts on investing that we haven't seen in years or decades like in Rich Dad Poor Dad. 

@Dylan Speer sell it, come up with the negative money balance, write the loss of on your taxes and move on with your life.You can sell it "subject to" to someone looking for a home with no money down and save on Agent commissions?

I know there are tons of fees and permits to consider, but - in your opinion does this sound like a good concept?

Interest Only Loan - This allows you to avoid negative cashflow in your monthly budget.

I invest in San Diego county and unfortunately believe your property as described above is negative cash flow after including cap expense, vacancy, and maintenance.  

Are you ok with being cash flow negative at different times of the year?

Adding to the last point, ensure the new debt does not negatively impact your father's DSCR or other financial ratios in a way that might make it harder to secure the next loan.