I've also recently started investing in the stock market, and while I really enjoy that, the returns can vary greatly depending on the overall market atmosphere.

@Andy Richter Welcome, and enjoy the journey. 

I didn't enjoy my FHA loan because of all the inspection and contingency crap but it did save me money on downpayment and got me started. 

Let him experience the enjoyment of benefiting from the money he has spent a life time earning before he is too old to do so.There will still be plenty left to inherit when he passes.

Eventually I'll probably want to be mostly passive but it's hard to get good at something and not enjoy it :)Anyway, if you're a frequent poster here chances are I've already read a good number of your posts so....THANK YOU for being an amazing resource for me already as I explore this exciting corner of investing!

I myself enjoy rehabbing properties to look nice and would consider myself liking to rent to mid to high middle class tenants that probably would take better care of the property, would desire these kind of updates.

Then we'll rent the property up and enjoy our monthly cashflow for the years to come :) This deal is unique because it's lipstick flip (interior & exterior paint make up 80+% of our renovation budget).

That's too big a gamble for 50.00....no matter if you're rich or poop....that's just crazy to take a potential tenants money like that up front when it's not a for sure deal.

My community has a large retiree population, and from prior experience with a business that I owned, I know that they enjoy the power associated with their positions.

You can very easily access your equity as it gets paid down and enjoy the cash any time you want.