@Robert BiggerstaffI would only pay people for tasks that they are licensed and insured to perform.

You would then hire your father to be the contractor.You would pay your father for the work he performs and issue him a 1099 based on the work that he performed.You and your husband would generate a profit based on sales price less purchase price less costs/expenses(including payment made to father).This route will save the issues/complexities of you being on title while your father wouldn't be.

The VA loan is powerful - no money down and no PMI - can be split across properties - caps out in the Springs around 495k I'm sure California is higher - there is a funding fee that increases up to your third time using the loan but in my opinion it's still a better deal because your interest rates are typically .15 -.50 lower so you make up the money in the longer run - If you are a disabled vet more than 10% your funding fee gets waved.

No one will ever do it perfectly on the first investment (and maybe second or third), so you'll always have takeaways to do it better next time. 

I second (third?)

The basement is open with a full bath (we recently added during a sewer upgrade); the 1st level contains the kitchen, living, dining, and mud rooms; the 2nd level contains two beds and one full bath; the third level contains two full bedrooms (a large, nicely converted attic). 

Once you have the data reconciled, you can run financial statements that are useful to lenders, investors, and will help you manage overall business performance.

I’m actually pivoting out of Fix and flips and rentals to investing in non-performing notes. 

How has market performed in past during economic downturn?

Despite today's pricing, some of the best performing real estate over the last 20 years is in your backyard.