It will prevent you from flipping it to a normal buyer because they will not be able to get title insurance until the statute of limitations expires for claiming an interest in the property.

I have looked into adding my name to the deed as joint tenants, or tenants in common but my biggest concern is that if anything were to go wrong (e.g. while renting it out), my dad’s name would still be on the deed and therefore still partially liable (I would like to assume full legal liability).

Here's where it gets odd.Jack wants me to be the sole borrower on the property, on our joint project.Jack wants me to not tell the bank about my source of rehab funds because it'll "complicate things with the bank"The bank has capped my borrowing limit at $250,000, which is above the necessary $295,000 to do the deal.As a workaround, Jack will be the sole provider of rehab funds (personal funds, cash)Jack wants me to give him one of my personal checks so he can write future offers.Is this a strategic way to expedite the rehab-lending process?

I have $3,000 saved up, so clearly my options are very limited.

That with solid liability insurance is all that I feel I need (LLCs are very expensive and cumbersome to maintain in my state).

It's very difficult to find an actual manager or hire a private party as there are liability and insurance issues. 

We use four different companies as we limit five buildings per PM company.  

Look for 95% financing to limit your initual exposure.

Many cities do not have enough, but Anoka is limiting applications and their goal it to have more owner occupied RE in the area.  

No wayTake the tax free money during your limited window and move on to the next investment