If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

Who is in charge of procurement?

Have a late fee in your lease.I have late fees in my lease, but I can't charge them until the 6th.

Then they'll charge an additional $2,400 for filing tax returns. 

Since your dad is a contractor with access to affordable labor, the renovation costs could be lower than average.

Wonder what they charge developers to access their capital resources.   

Whats making you think rates wont go down after a couple years given the new administration in charge?

For example, California has an $800 minimum franchise tax, while other states have lower fees or no franchise tax at all.

When I pointed that out, they suggested I instead setup my credit card as a vendor, and enter each charge as a bill, which would then fix the assets and liabilities issue.