@Walker Seid@Brad McBride@Leo KhmelnikerI was kind of afraid that it would be difficult to get the kind of rents Im looking for in your areas, from what I've found looks like Boise, SLC, and Nashville have been up and coming for a little while now but still seem attractive from future economic outlook.

Two million population in the area, sports (no football), museums, world class zoo, four seasons and outdoor activities.

Project sold for over $8m so it is all about the numbers. 136 unit conversion was brought out for my part, Building was purchased for $1.2 million.

They are very unlike to ever have an estate worth more then $5 million, so this seems like a win.

You end goal should be to sell the home unless you're okay making repairs and having the additional management overhead.Hopefully there is upside to the $400 lot rent and means to cut expenses further so that the deal is more attractive.  

Oh, I thought the way to do was to borrow $6.8m (in today's dollars) from your father, and then inherit a few hundred million more when he dies. 

If the answer is no then you have to have an honest conversation with them "hey, I want to help you, but this is not an attractive deal that makes any sense to me - and that if I do this there is a high risk that the deal will not work and we're going to ruin our relationship."  

If he stayed, you could run good tenants out or attract more illegal activity, neither is good for you as the landlord.I would only take money from the security deposit to remedy actual damage which could include odors if there are any.

Some of these tales keep getting taller and taller...for example I'm 24 and I have 600 doors and I did it with no money down...or I'm 18 and worth 1.2 million but I don't tell my friends so no one knows...or ...wait for it... 

Most of the homes here were built in the 50's and 60's but within the last 5-7 years, there have been many tear down/new build projects in the area with very large homes (3000-4000 sqft) ranging anywhere from 500,000-1.2 million.