I am in the Houston area and my primary goal is to become financially free and look to enjoy more quality time with my family as I do want to move away from the day to day desk job.

If you look into this option my electrician told me the specific panels and meters I needed and recommended I buy them on EBay where there is at least one electrical supply company that sells brand new electrical equipment at a significantly discounted rate.

An LLC is not free.

There are pros / cons of whatever way you go about it plus a lot of unknowns.If your dad owns the place and it appreciates a lot and he decides to sell it, the gain can potentially be tax free which you wouldn't have the option for if it was a rental.I personally wouldn't do business with family.What if you own it and he rents it from you and you both have a disagreement on rent increases?

Feel free to reach out if there's anything I can assist you with!

Feel free to bounce any questions off me. 

The key is to network both locally and remotely to broaden your options and resources.Best,DragoIf you need any help with financing strategies or advice on building your team, feel free to reach out.

Start with BiggerPockets Ultimate Beginners Guide (free).

When the property is owned "Free & Clear" There is a lot of flexibility when the property is free and clear.

Best of luck to you, feel free to reach out any time.