If you close towards the end of the year you will have to pony up more taxes because most jurisdictions have the tax bills due at the end of the year.

Long term means two monthly bills. 

@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.

Oh and how many years did it took the US Congress to barely pass an infrastructure bill? 

 Amended, Bill No. 120774-A (approved January 14, 2013). 

I called the plumbing company and kindly negotiated 2 hours off the bill, bringing it down to $787.

Quote from @Bill B.: First, I’ll send my hopes and prayers to the seller that you can perform.

If Yes, send your best 3 offers to the appraiser prior to their arrival.For a reconsideration of value (ROV), I suggest the following:Please review the appraisal for any clerical errors regarding the subject property and comparable sales.

Quote from @Bill B.: You have a kick butt deal, if you generate ha;f the cash flow you’re planning on you’ll be ok.

The other way to lower PITIA is to get a lower insurance quote but this is marginal since most insurance carriers are all priced to market efficiently (insurance accuraries have low margin of error or variability).Stated the problem and the solution to your FHA inquiries, any thoughts questions comments, lets goooo....