We all do the same thing, we just call ourselves different names and carry similar but different licenses:- CPA - Certified Public Accountant- EA - Enrolled Agent - Accountant - Tax advisor - Tax strategist- Tax consultant - Tax plannerIt all means basically the same.

I would definitely talk to a contractor to understand what your build costs would look like. 

One place that will soon become a rental market heaven is an area around Johnstown/ New Albany where a huge Intel plant is under construction with plans for thousands of employees, not to mention the contractors there now. 

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

. $300k loan needs to show $15k liquid assets, and draws typically require you to pay contractors and obtain a lien release before you can be reimbursed for the money you paid contractor.While I know there are a lot of people who use low money down loans to get started, it is risky.  

Is it wrong they tell the investors if asked to say they are "partners", or "contractors" just bidding the job? 

Not an expert here but my Brother is a heavy equipment operator in Northern CA and did a lot of the fire clean up when those fires happened and he mentioned contractor might need hazard waste removal license..

Would that look like a partner, General Contractor, CPA, Lawyer?

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

You don't have to be a contractor but it will save you a good chunk of money.