So much so, that according to AirDNA data there are 4000+ properties on airbnb / vrbo in this destination, though the property that I am evaluating has been used as a primary residence and has no rental history.

@Simon AsselinThere are some on BP which I posted about asking this same questionHave not gotten a lot of details yet but if I do will let you know.

You may want to remove yourself from the situation since you are emotional about the situation.

It was a weird system that isn't around anymore but we "bid" on it with a realtor.

I do not use Rent Ready, but I know that it is a perk of my pro membership here and I am considering setting it up to help my tenant establish credit. 

Quote from @Michael Anderson: It is recommended that you change everything over to the LLC.

You've got a 48% chance of winning that way.

@Shibashis Dutta Detroit has 183 Neighborhoods - some you want to invest in, some you don't.We've got them all on our website and have info on ranking them.What else are you looking for?

@Zach RumfieldI agree with @Bill B. and @Bruce Woodruff that, financially, this is probably a no brainer and that you should run the numbers to see how it pencils out because, even though your dad already owns the property, there are likely still some upfront costs to consider.1.

I am assuming that most lenders require 25% DP.