Do you keep it on your windshield in plain site or locked away in a vault?

Words a crude device for what goes on in our heads, but they're all we've got!

Each door has a digital lock, along with the front door.

Maybe give Dad a preferred return to reflect how much capital he has locked up on this deal.IE say property is worth $4m with no debt (keeping it simple), and cash flows $800k annually.

As you talk to lenders, make sure you know the following:    1 Rate Lock Policy - If the DSCR lender doesn't rate lock for 45 days, then I'd go elsewhere.

I ended up locking in a 6% fixed rate and I'm glad I did because my interest rate would have doubled if I went with a HELOC.

The owner I know uses a local handyman service they've built a relationship with to handle one-off issues that come up and perform regular maintenance, and it sounds like you've already got cleaning locked down. 

You may need to spend a few hundred dollars to get a lender name change if the new lender requires that, but depending on when you rate locked you may still end up saving money with a new lower rate.

From there, if you can find the house that needs basic rehab and lock it up for around 50-60% of that ARV, then you’ll do just fine most the time.  

And you have to live in the same unit as the guest, bedroom doors cannot have outside locks, and you can host at most 2 guests at a time.