You can get money from family and friends, you can get the seller to provide financing, often called "Seller Financing" or a "Seller Carry" or you can get a lender to lend you close to all of the money needed (I see loans at and above 90% of purchase cost + 100% of improvements). 

@Matt Said, When you do the 1031 exchange the basis in your old property is carried over to your new property. 

This is actually a problem - since now you are treating them as one activity, they will carry forward indefinitely. 

Hey David, as long as you flip the property it shouldn't affect your future purchase if for some reason you have to carry a loan on the property then that will affect your DTI which could potentially affect your future purchase.As for flipping, I think you are in a good spot because you and your Dad can do the work yourself, one of the hardest parts of investing in Real Estate is finding quality vendors and contractors.

Perhaps you are referring to a seller carry back? 

REI offers steady cash flow, appreciation, and tax benefits, while business acquisitions, similar to the BRRRR method, can provide higher returns through operational improvements but carry more risk and require hands-on management.

Of course Gene,Your losses offset your gains.You can even carry losses into future years.Please consult with a tax professional though ;)

Deals carry risk and you can't always control a deal taking a bad turn.

Before I joined I was trying to carry my multifamily goal by myself, I thought the only way I could get into multifamily was to have enough money to buy a property on my own so I was trying everything I could think of but ended up just spinning my wheels.

Do you have standard property insurance for your houses since you are leasing to the organization that would ultimately carry the insurance for operating the sober house?