Im mainly looking for more passive ways of building sustainable long term wealth, not interested in the overnight success or endlesa days rehabbing homes, as this would be supplemental income.Thanks and look forward to learning more!

I currently rent out a condo and an SFR.At the end of 2009, I figured it was time to kick my investing into high gear, so I signed on with a "guru" or 2 and eventually formed VetInvest to help veterans learn to earn supplemental income through wholesaling.

You want to be as thorough as you can especially if it's going to be supplementing income for your father, if your going to buy a small townhouse or condo that needs work you will want to do the same thing as well how much in repairs will it need how much of a down payment do you want to have etc. the numbers are very key in doing any real estate deal so make sure you try to be as accurate as you can in knowing how much it's going to cost in executing your plan Thanks, Michael 

So, while those seem like wasted fees, they are more like pre-paid expenses.Your taxes seem high, and I would question the transfer tax.If this is an FHA 203K, I don't see any hold back or inspection fees for when you need to draw from the 203K.I would push back on the supplemental origination fee. 

Honestly, I think you're going to have to come to terms with the fact that your time together will decrease until he can supplement his 2nd jobs income with his earnings from real estate...  

Here is an old thread to supplement the one today on leverage.

I want enough passive income to supplement mine and my wife's W2 jobs so we can focus on what we love.

Either way, it'd be great for you to earn some supplemental income and get some experience during your time at UF.I have the contact information for Ray Lopez the broker in Orlando and also Wickie Ariet the office manager up here in Gainesville if you would like to have conversations with them.

Your local realtor association branch should have supplemental classes along with your brokerage possibly.

Long term goal (7years) I would like to supplement my income with the rent I receive.