It's unfortunate.

Texas is one of the top states for house flipping, but it comes with challenges like fluctuating property values and renovation costs.

If my first impression is an accurate depiction what you experience is the cost of doing business there.

We have a PMI of $250 a month and I’d love to get rid of it.I contacted the bank for a request for PMI to be lifted and they denied it.They said I could order an assessment of the house through them and then if house / condo come up with enough gained equity then it might be possible .Does anyone know the best first initial steps to order a home assessment ?

It will be hard to use your daughter's special buying status and do a 1031.

Do you use licensed and insured contractors?

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?

If you don’t think it’s a good method, then don’t do it.

How did you find this deal and how did you negotiate it?

it's a volume game.