Efficient negotiations secured the property for $120,000 on favorable terms.

Quote from @Calvin Drake: I've found that some of the zipcodes on the northside (32208, 32209, 32206) have adequate opportunities to meet the 1% rule; however, with some deeper looking you most definitely can find properties elsewhere in Jacksonville that may not require as intensive of management as Ken mentioned.Can you explain what you mean by “deeper looking” other than looking at public listings or going into wholesale which I don’t have time for? 

Your goals need to align with whoever your potential investors are.I would schedule a call with a securities attorney, such as @Kim Lisa Taylor to walk through your structure, returns, and business plan, especially if this is your first syndication.There will be demand for your type of deal, especially investors who want a flight to quality in this part of the market cycleGino

Unfortunately, the vast of them have houses and other buildings or improvements on them so I can't compare the public records. 

(It's what started this public blogging) Some FAQS: 1.

Even retirees get raises to their Social Security and usually pensions as well. 

Adding to the last point, ensure the new debt does not negatively impact your father's DSCR or other financial ratios in a way that might make it harder to secure the next loan.

What I've gathered from speaking with the previous owners realtors, is that the husband and wife went through a divorce proceeding back around 2014, the husband agreeing to quit claim the property to the wife, in return for her within 1 year refinancing him off the loan.In a brief conversation with the husband, he seemed to confirm that the quit claim was signed, but by her, because he had given her POA on the house (for which there is public record filed regarding the POA).

Here in FL, pretty much everything is public record lol.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.