We have offered to allow her to pay a reduced rent for the first few months as well but I am worried that may create some sort of limit on how much we can raise the rent on her in the future.

For context, downtown Alexandria performs super well as a rental market and bringing in $5.5k+ as the monthly rental income if you choose to move out of the househack in the future will be absolutely feasible (depending on the property of course).

It’s also helpful to build a small network of trusted vendors and tradespeople you can rely on for future projects.The BRRRR strategy can be a great way to scale, but I’d advise budgeting some extra cushion for unexpected costs or delays—it’s almost inevitable.

It’s awesome to see your passion for real estate investing and your clear goals for the future.

From there, I would like to consider a 1031 exchange in the future to acquire more units.My current property management company suggested that they could handle a mid sized apartment building but I would absolutely not consider them for it as I believe they have overextended themselves and communication is lacking.

I'd like to add another SFH to the business  in the near future with the main goal being grow the business as fast as possible. 

.- 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!

This is my first investment of this sort and it has not worked out how I originally intended but I am learning from my mistakes and will be making better decisions in the near future What made you interested in investing in this type of deal?

@Michael Keffer Hi Mike, I am still interested in learning more about Ocala FL for potential future investment. 

You may want to find out what you can legally add to a future lease.