Just make sure you build a good, solid, and competent local team in the area you choose to invest in.

If you bought a 2-family and started renting both sides, when one tenant leaves, you could choose to move in and then house hack and refinance at that time and get money out and buy a second property.

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@David Trujillo your father, like all Americans, has the ability to avoid up to $250K in capital gains taxes on the sale of his home using the 121 exclusion. 

your corporation then becomes the plan sponsor and chooses to fund from your retirement money.

This may be more of a question for a lawyer, but from a tax perspective, that's my input.It's also worth looking at the sec. 121 home sale gain exclusion to see if it might be something you qualify for in order to take advantage of the exclusion amount since you mentioned it was a previous primary residence.

There is financial benefit in keeping quality tenants, reducing tenant turn over, and having multiple tenant applications to choose the best tenant.  

If you choose to go this route and like this model, I can hook you up with a banker that is awesome and loves these.

Plus, it leaves a lot of stains and needs to be consistently cleaned especially near water. for lighting it's really important what kind of temperature color you choose.

Is that how they choose any other profession who takes on a task with high stakes, a doctor, a lawyer?