I'm also looking to figure out how I can maximize the situation regarding taxes.

I plan on leveraging this to maximize oportunities as well as returns.  

I look to partner up, build a Perfect fix & flip team to create a frugal way to maximize profit.

He's open to something creative, rather than taking the windfall of a typical sale.My goal is to obtain the property and maximize the value for myself and my dad.

This gives the ability to maximize tax benefits.

You can maximize income this way....without the risk of tenants trashing the place or filing bankruptcy and squatting for free.People are always asking me what kinds of tenants we get....and they always think the worst because of rooming house mentality.  

I'm really just looking to maximize return here.I have a very comfortable savings/investment balance of $100k+, so secure financially.I am not handy and not looking to "buy a job."

I ran the numbers in regards to the taxes, property management, insurance, vacancies, and repair fund and the property was making 34k/year before a profit maximization plan as 8 of tenants have lived there for more than 6 years.3.

You may want to consider a strategy such as Cost Segregation to help lower your taxable income and maximize current year deductions to generate a loss that will carry over.Third, You NEVER want to hold rentals in a corporation.  

I'm new to being a rental property investor and am interested in learning about how to select the best properties, maximize my ROI, and obtaining financing,  I appreciate the opportunity to meet with other investors!