@Aaron Hunt my tax stuff is even more complicated than that since I have 1099s (consulting agreements in my profession as S and LLC), stocks, interest payments, as well as W2s and my rental income.

@Amber KennonYou and your father should first consult with an agent who can give you a fair assessment of the value of the property.A lot of people may be reaching out to your father with offers but you won't know if they are good offers without knowing the true value.Seller financing is one option for your dad - He can sell the property and instead of dealing with tenant issues(which it seems like he does) he can instead collect a payment on a monthly basis from the ultimate buyer.He can negotiate an interest rate with the buyer which can help him into his retirement.The other alternative is that he continues to live there and you inherit the property from him.

If there are breach of contract issues, you should consult an attorney for an hour and find out his opinion regarding your options.

I work in energy consulting in Boulder, and am looking to get my feet wet with a turnkey provider. 

I have certainly had investors question the $80 utility appointment fee, but our practice is to set up a consultation and explain those fees before any contracts are signed.

IRA would be responsible for this tax.Be sure to have your client consult with qualified tax professional if you decide to go JV route. 

I also think you’d be better off (business) leasing a new Model 3 Standard Range for tax reasons, but pls consult with your tax professional. i think you can still opt for the cheapest Tesla in-store and not online.

If you have passive losses from rentals they can offset this new passive income.If this joint venture goes beyond one house and balloons to three or four or more a year, you and your brother should both consult professionals. 

New to this level of investing, but I’ve spent 20 years as a consultant helping others do commercial ground up development.

I would consult with an attorney.