Typically I'd want to know what you and your dad's agreement for the whole life cycle of the property looks like, particularly how the rental cash flow is split and how the gains on sale will be divvied up. 

You can also learn how to do such yourself but it will take some time to get educated and gain experience (btw you should still educate yourself while partnering up with others.)

Because it was my homestead until the end of 2017, if I sell by December of 2020 I avoid capital gains taxed (because I will have lived in it 2 of the last five years).

(Definition of buy and hold) Things I learned:You can literally ask for anything once you gain a relationship with a lender.Make your own spreadsheets/evaluation tools otherwise, you are relying on someone else’s understanding when you don’t have your own.Make sure you do your full due diligence yourself as it’s your responsibility no matter what, this comes to appraisals, inspections, insurance, property management, tenant management, contractors.

@Adrian Gonzalez, no, we have done a handful that we did occupy while remodeling (for the capital gains exclusion), a number of fix and flip deals, and the bulk of the deals have been long term holds.  

@Mathieu GagnonCongratulations on your openness to owning US real estate as a vehicle for gaining wealth and leaving a legacy to your family!

We also gained landlording and renovation experience. 3. 

Yep, not only are you assuming his current basis and depreciation schedule, you’ll be paying  cap gain taxes based on His basis(not your purchase price) verses your sales price when you sell the property.

I am new to this Real Estate arena and am looking to gain more knowledge and moreso even meet some potential mentors, etc.

Your IRA can not invest in a business you own 50% or more of, your IRA is for "future you"- meaning that you can not gain any current benefit from the IRA, and vice versa, you can not give your IRA any benefit - meaning you are not able to preform any free service or labor to a real estate project.