Take advantage that you are single and can take a little more risk/sacrifice so you can achieve Financial freedom faster.

If you just started out with the goals of achieving 10 personal rentals as quickly as possible, would you bring on multiple partners and expand the teams goals of an additional 10 per person or would you stick with as little people as possible allowing a lower requirement of fitting properties to find?

Achieving the extraordinary is not a linear process, the secret is to put in the time every single day on meaningful tasks and to work through the many frustrating aspects of the journey. 

It seemed the bones of the home were good and the challenges we would face in remodeling would be achievable.  

What do you want to achieve?

Ask if an installment sale will work and be the most optimal way to achieve both your and your father's goals.

They are a licensed real estate agent who typically works the buyer leads that come in off the numerous listings of a high achieving listing agent. 

It will take a while to achieve your goal of $5000 this way.

We put ~55K into the property up front and we will put ~10k in to achieve the anticipated $300k appraisal value.

Whichever will help you achieve your objectives.