For long term holds I like upward transistional neighborhoods where I can see future forced appreciation while the asset cashflows. 

Pete) and have narrowed it down to finding a single family home with a pool in the unincorporated Bay Pines area or Indian Rocks Beach (note, it took a long time for me to get over my beach view condo dream in a popular area but HOA fees and restrictions helped!).

My father is not interested in keeping the properties in his name and simply having us manage them, but is open to the concept of us owner financing them from him with a long term, friendly agreement. 

Here in the towns I'm in (smallish illinois suburbs), you can buy a 3/1.5, 1400 sq ft house for say 190k (retail and rental ready) and rent it out for 1750 to 1850 all day long. 

(We individual investors or Long term Lenders can't borrow at that rate) Mortgage rates typically follow the 10 yr Treasury yield. 

Some Lenders do cap by the Fannie Freddie cap of 10, but there are plenty of lenders out there that will not cap you as long as you are able to provide updates on your properties and have a relationship with them.

One is for the main house, one is for the ADU, and the last is for me to store my boat.  

But one of the best resources I've found is just reading, and listening to, as many books on the subject as I could find to really help deepen my knowledge and expertise.I actually just started listing to audio books over the last year or so and found a great app called Libby, that you can download for free through the Cleveland Public Library system and there's tons of great audiobooks on real estate and investing that I listen to when I'm driving and has helped me a lot!  

I don't think this is a good idea for the sole fact that you intend on selling after his passing.Once they pass (which I hope is a long time from now), those who inherit the house will benefit from the step up tax basis, meaning the net proceeds could be TAX FREE.

My understanding is as long as you're not sharing that lease to clients to use then you're ok to use it on your own stuff.