There are pros / cons of whatever way you go about it plus a lot of unknowns.If your dad owns the place and it appreciates a lot and he decides to sell it, the gain can potentially be tax free which you wouldn't have the option for if it was a rental.I personally wouldn't do business with family.What if you own it and he rents it from you and you both have a disagreement on rent increases?

One thing I have noticed is the asking price with it's cap rate, is almost always priced out by the properties POTENTIAL income! 

the tenant. arbitrage would be someone having a long term rental agreement (usually at least a year) and a landlord isnt normally going to be paying the utilities in those cases

More work to have to do two deals to keep one.   

Would love to meetup, network, and have a meaningful discussion!

I've come to Bigger Pockets to learn some tips, tricks, and hints about real estate investment and to connect with folks who have similar goals. 

I have a house that is a two bedroom one bath property with a decent size lot.

After reviewing the city ordinances, I have a couple of questions about STR regulations.

These are some questions that you want to have answers ready to.

Have you modeled what appreciation looks like given the reduced claim to the underlying land?