Flipping houses and owning rentals are only similar in the sense that the underlying asset is property -- beyond that, they are completely different strategies that fulfill completely different investment needs.Every investment strategy requires you put in some combination of the following:- Time- Cash/Credit- ExpertiseAnd every investment strategy generates some combination of the following:- Profits- Cash Flow- Tax BenefitsWithout knowing what you have to put in and what you're looking to get out, there is no way anyone can recommend a particular path.

@Jeff Whelan Yeah it seems @Christopher Phillips didn't understand that you're talking about a house you've taken over the payments on.I'm not sure about lenders in the US but here in Canada if the seller shows them the lease they will only credit 50-75% of the income toward their income for the purpose of DTI calculation.That's probably the best your seller is going to get if you've taken this property over on a lease option.

He makes very little, and I don't really need to worry about his credit, because his brother / roommate makes enough to cover the rent.

I go through applications as they are received and they pay smartmove for the credit/background.

Father's removal will be a gift to daughter for federal tax purposes and a gift-tax return will need to be filed, and unused lifetime credit will be reduced, or, if already all used, gift tax must be paid. 

Does this include credit unions?

Anyone that reads my posts knows I'm not one for the hard sell,  but I think credit where credit is due, and I know the BP community is always interested in information about on-the-ground changes in popular RE markets.Thanks to you and @Caleb Heimsoth , as always, for your input!

Has anyone try  to dispute a Late payment charge on your Credit score?

We also can meet all other requirements for borrowers (credit score, DTI, etc).

There is a lot of hard work involved in building up assets and cash wealth plus also great credit that can be used to position you to be able to make investments with OPM (other people's money) i,e. banks, and other lenders like private and hard money lenders.