If it's an SFR you could technically get a HomeStyle reno loan on it, but that would be a lot of closing costs and other nonsense just for an extra $5k.I'd suggest credit cards or other unsecured borrowed funds -- get it done quick and sell it quick to pay it off. 2nd best might be some sort of equity deal with another investor who has $5k to invest. 

So the big question I have is do any fellow landlords out there use any type of app or program for your phone that allows you to set up a sort of "Mock" business line.

What sort of strategies can I use to assess if a neighbourhood’s lack of safety would be a barrier to investing?

With my ultimate goal at passitivity that sort of rules out flipping. 

My only concern is that, at the purchase price, you may be in a war zone which causes all sorts of dilemmas. 

The flooring completely torn out, the place was wired specifically to grow the green stuff, and they had put in all sorts of piping and ventilation systems.

Honestly, it's too bad that the operating part of your dad's business does not carry with it some residual value of some sort with regards to that commanding a sale price.My hunch would be that this would be far too risky to embark on as a first go of things.Especially, from what you're mentioning this may have a large impact on the quality of your dad's retirement.If you have the funds and can structure something, the place to start would be to engage with an A/E firm to get a cost estimate generated for a concept building like you're mentioning. 

Sort of like a babysitter for you and the GC to make sure you dont screw up with the banks money.   

It sort of makes things run together.

Yep...so sort of mixed feelings on it as I expected.