James,There are several grant options and DPA program out there have you reviewed all of your options and compared them to BOA? 

Are there any other options aside from the rehab loan other than cash? 

One way of doing this would be to keep everything currently in your father's name, create a living trust, and son and daughter would be beneficiaries of the trust, and properties will remain in that trust upon your fathers passing in the future, from there you will have options as to what happens. 

There are a few options, but before you think of paying them off...can your money make you more doing something else?

I thought going in that we would start an LLC but have come to learn that LLC's have very limited lending options for real estate and that our LLC would require us to file taxes as a business because there are 2 of us.

We've spoke with multiple banks at this point to get a few options. 

I've heard renting 3 bedrooms is a very crowded market so thats why im looking to do the smaller 1-2 bedroom options Im concerned about all the competitions and the somewhat transient nature of the city.

There may be several options for remediation depending on the state and applicable regulatory context.

otherwise i agree with the others - 50K just isn't enough...Hi Nicholas I’m starting to rethink my strategy and what would be the best option to get my foot in the door.

You might consider cutting your losses and selling it, or investigate STR options.