This is an off-market deal.  

Quote from @V.G Jason: The excuses people make to invest at the most casual level is appalling.I'm not going to sit here and compare lives, but trust me folks with 20x the amount of stuff on their plate can go out there and invest properly in RE by doing their diligence.

Hello BP,I hope this message finds you well!

If the asking price is $100k, perhaps offer $100k, but will go as high as $120k and exceed any other competing offer by $500.

This will likely be part of a 1031 exchange, with plans to purchase by spring or summer 2025, before the fall semester.Thank you!

However, if they are going to be disturbed, I would provide notice.

Therefore, you cannot go up to 85%, Account Closed.

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?

I would strongly recommend looking at the BiggerPockets lender finder since all those lenders are familiar with the investor mindset even if this is for a primary residence :)https://www.biggerpockets.com/business/finder/lenders

This was a perfect set up as it had a walk out basement/separate unit with 2 beds/1 bath and a kitchenette.