When the offers dry up he'll sweat.

Also from what you describe your father is working for sweat equity as he is not putting in any funds.

@Jay Hinrichs I know, but when you consider that you are either paying Uncle Sam from your profit, or paying a hard money lender to do the deal in the first place, or the opportunity lost because you are spending all your time and sweat burning the daylight on your own jobs, it's like whack-a-mole!

You can’t perform sweat equity on the investment.

I guess it would be sweat equity.

By all rights it sounds like a terrible idea everywhere except the money which is so intoxicating because I believe I can update the units and get significantly better rent out of them closer to the tune of $600 to $700 a month bringing this up to a 3% or better dealI'll be short sharp and sweat lolIt would depend on the area and how cheap you can buy it.Personally, I'd want to be into a multifamily for for $15,000 - $20,000max per unit (Purchase and rehab)It would also need to be a B class property/area otherwise I'd want to "buy in" even cheaperSometimes the area is rough that getting paid to take the deal of a sellers hands isn't worth it (Yes, it happened to me many times hehe)Much success

If the house needs siding, new roof, kitchen, and a lot of interior work $30k is definitely not going to be enough to fix it without sweat equity.  

Another option is buying a house that needs a little fixing and put some time into it to build in sweat equity.

Don't forget sweat equity.

I really need to start using leverage as well instead of sweating it so much.