HI all could not manage without my PM he is my eyes on the ground living  out of state out of country infact  having a great one is essential  do am glad  

This "guest" will be a tenant in the eye of the law so then you should treat them as a tenant and properly screen them and have them added to the lease. 

Happy to keep an eye out and let you know if anything interesting comes along either way. 

Example:-------------------Tenant A - Grandma Millie's Sewing ShopBeen in business 1 year, decently profitable, signs 5 year lease.Rent = $60,000/yearTenant B - Eye Doctor office.Been in business 5 years, quite profitable, signs 5 year lease.Rent = $55,000/yearTenant C - Subway5 year leaseRent = $50,000/year-------------------If I assign the following Cap Rates, I get these building values:Tenant A / 10% cap rate60k/.1 = $600,000Tenant B / 8.5% cap rate55k/.085= $647,000Tenant C / 7% cap rate50k/.07 = $714,000(or even $45k at 6% cap rate = $750k)-------------------I just made up all of these numbers.  

Make sure the family is good on this transaction happening at the right price, it could get uncomfortable if your dad gives it away to you in the eyes of the family.

LTRs may face eviction issues, their consistent income makes them less risky in the eyes of lenders.

And one area that I’m keeping my eye on is Franklin.

I don't have any properties besides my primary residence yet, however I've been keeping an eye on the market.

thanks for the replies, to clarify a bit more, I'm mainly looking for an agent who can be my eyes and ears in the case I'm not able to be there in person to view the property.

But thank God for them bright eyed, passionate, new investors are not rare.