.- Have attorney draw up a contract to do this.Suggest you offer your dad some cash, now or in the near future, to motivate him to transfer his ownership to you.It may not work out, but you will learn a lot either way!

But if borrowing costs remain high and interest rates don't fall as many people expect, cap rates will have to decompress further. 

Sadly, I remain only an aspiring investor still, haha.

Again, this is a factual action that will ensure that you remain in control of your property and that the other tenant has the peaceful use of the property that is a legal right.Fun, huh? 

Dropping your rental rate and remaining competitive in the market, will attract the right tenant based on your initial application and screening requirements.

Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.

One of them is in TX, another one in MA and I am not sure about the remaining. 

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

I think what you're really asking is how to identify good value areas where rents may be trending upward but the prices still remain relatively lower.An important metric is tenant household income to rent ratio.

After 20+ years, I hear from so many who are more motivated by fear than optimism and make decisions based on not losing rather than a high probability of winning.