And, yes, inspection deficiencies can hurt your valuation because once they are disclosed, you are required to disclose those to future buyers. 

A new future real estate agent and real estate investor here!

This experience will help you prepare for more complex real estate deals in the future.

Hoping" for me was never a strategy as the future is unpredictable.I hoped my $480,000 condo in Chicago would appreciate and it didn't move since 2018.My tenant a crypto exec has been paying me $3,000 in rent on the 28th of each month like clockwork for 5 years now.No capex, no issues at all and that has been a breeze.3% ROI isn't sexy enough to me tho 🤷‍♂️I'd probably be cheering right now if it moved up in value but it's been a dead deal in my eyes.But it is what it is.The numbers in a deal TODAY per se don't rely on hope and are a more predictable outcome.Granted, the numbers need to be "worked" and a more "hands on" approach is needed in such markets.Thanks Hi Engelo, you have been doing this for a long time and I know you have the skills and tenacity to manage high-cash-flow properties, but you have to admit, you are working hard for your cash flow, this is not passive at all.

You're in Texas, which other people have commented is a gold mine.

There are many ways to attempt to collect your loss:  file a small claims complaint against them; get a judgement so you can garnish future wages/bank accounts - and the judgement will be recorded in the credit bureau. 

@Raul VelazquezCongrats on deciding to do something proactive to create a better future for yourself!

You don't know for sure exactly what their occupancy rates are but you can certainly get a feel for it by seeing what future dates are open.

.- Have attorney draw up a contract to do this.Suggest you offer your dad some cash, now or in the near future, to motivate him to transfer his ownership to you.It may not work out, but you will learn a lot either way!

Not sure how close you are to the partner but you may want to work with someone else for these kinds of rehab projects in the future.