With my background in law, currently studying in Indonesia, and my experience as a real estate agent, I’ve seen firsthand the opportunities and legal considerations involved in such investments.

You don't want to just do the work and invest your own money, keep your dad on the note, and have nothing to prove you have ownership of it.I think you have the potential of something good here, but you have to have everyone who is a potential heir weigh in on it just in case.

Study history, learn a bit about it, you may need it. 

Buying in an HOA especially at that price point that will prove to be a good performing asset will be very difficult.I curate a weekly list of the best performing STR properties in the Tampa Bay area - DM me if you would like me to add you to the list.  

Bad preaching and greed has lead me to study this topic .

Carlsbad DOES allow short-term rentals in the "Coastal Zone," which is where my dad's place is.Mentor's HomeMariposa, CA80-acre lot2000 sq ft 2/2 home (with an extra study and large living room)Worth approx. $750kThis is more of an emotional project for me.

He talks about how you can purchase a rental property, manage it as a short term rental during the year you acquire it, do a cost segregation study, use those "losses" to significantly reduce your taxable income that year, and then turn the property into a long term rental in the following year. 

Put in the effort, build relationships, prove your value, and improve your odds of finding someone to help launch you on your path. 

More lending options will definitely open at 6 months, but there are plenty at 3 months and a handfull that have no seasoning at all for cash outs, so long you can prove rehab was completed.Cheers!

In the meantime, I’d love some advice on what peoples suggestions are as to what they would recommend to study up on first.