Your experience as a real estate agent, coupled with your technical expertise, makes you a strong asset to the local investment community.Your “live and flip” strategy and focus on PML partnerships sound like a smart approach to building your portfolio.

I’m not sure how good either are in your area but it sounds like you have a great connection with your father.

I have absolutely nothing to sell.That sounds scary!

So it sounds correct to collect all amounts into my business account then and send a 1099 to the owner reflecting what they received minus the PM fee?

It sounds like we didn't do a good job of setting expectations with you on the front end.

It sounds like there's a good bit of equity in the property, that's a good thing.

It's cheap and easy.

It may be easy to rectify, maybe not, depends on your jurisdiction, the issues involved and the City's stance. 

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

Sounds like you're in the scale/harvesting time so I think you need to determine if this property is something you are happy with the cashflow it would produce as well as the time needed to manage it or hire a property manager, or is it time to take the equity and redeploy it into something more worthwhile like a higher cash flowing investment or creating higher equity in the home you buy down here.