If its vital to the deal then we may have to aim a bit lower for our first property.I agree that a yield play is my best bet, but I would plan to strategically update the property in order to force appreciation and increase value.

In addition to the lessons you have already learned, a couple of mine:1) Natural curiosity - especially about "boring" things - can help you learn the vital information to move you forward2) If you don't know, ask someone, and/or do your own research.

I figure there will be multiple layers of LLCs going on here, one I have myself to be paid profits through, one we have the partnership in to make offers and buy/rehab property, and maybe an additional funding one that only he is on? 

I am not used to crowdfunding where there is a layer of indirection. 

Primarily looking to get as much protection and layers as possible on the front end to prevent costly issues down the road.

That strategy adds layer upon layer of risk and most sponsors that are taking that risk have not been in a scenario at year 3 + 1 + 1 where they have to refi that debt, spent $2M in capex to find they were off on rent and or economic vacancy.

I don’t want another layer.

I'm starting in Real Estate and my father would be interested to fund my US rental properties from Europe.I'm sure that involves several layers of tax concerns, deal structure problematic, etc...As of this morning, I have 2 questions :- Should I involve him as a simple private lender from overseas ; or would equity partner be easier?

Here's the short answer:Pull down the ceiling in the downstairs unit.Add insulation to the joist bays (Roxsul is best)Run resilient channelHang 2 layers of 5/8 drywall on the resilient channel with "sound caulking" between the layersIt's a big job, but very effective.

Next, layer an exemption to accreditation on the investor under Reg.