Depends on the lender and the type of loan the buyer is looking for.If a person doesn't have 2 years or more of rental income on their tax returns, some lenders might not include it.

He got a 10% preferred return and 51% to me and 49% to him of any additional upside.

Welcome back to the platform @Nate McCabe, I am just returning to biggerpockets myself.

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. 

Or you can reinvest into a better return.

For an S Corp, LLC, LP or similar you will do the tax on a K-1 for the split and you will add this into your tax return.

Loosing 1 month of rent (never mind paying commission to get a new renter) would lower your annual return to 5% and 2% if you have to pay a commission to re-lease it. 

Misrepresenting driveway access is a fast ticket to getting sued by the buyer.In addition to the other good suggestions here, I'd suggest a certified letter / return receipt to the broker at that agency.  

By borrowing to buy you are adding risk but increasing your returns.

I would definatly sell now while markets are at their peek.You have almost 200K in dead equity that should be invested and earning a 10% return.