Consider building a team of people to guide you for each step (local lender, local realtor, attorney and GC).

It seems to me like you may already have a guide for the path you must follow, your father.

In the meantime, I highly recommend "Every Landlord's Legal Guide" by NOLO.

If you can also guide me on how I could understand more of the market trends, analysis, what to look for, etc.

Can someone guide me through this process and help me understand what’s going on here?

They have the knowledge to guide you on different options you have in the state.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

Hi - a lot of people in your situation move from conventional to "DSCR Loans" for this exact reason - since its hard to scale meaningfully when needing a DTI ratio to qualify (one of the main benefits of DSCR is no DTI ratio in qualification).Check out this 10-part guide on all you need to know on DSCR Loans published on BP!

I think that data should guide our decisions, even if some people may rely on their emotions or gut sentiments.