Hi Chris, Most Ground-Up lenders are capped at 85% LTC.

They specialized in concrete tilt up, but did a lot of time and materials work for a self made real estate tycoon who owned a lot of Federal Way.Along the way I got my CPA license and practiced in several differing sectors including doing some work with low income housing projects.As far as my start in RE, it was with buying my first personal SFR and later moving to a new residence. 

Keep in mind I am servicing my own HML s  PS Its great you come on here and communicate so the rumor mill does not go wild.

Increase earnings, decrease expenses, save up, and then you can invest. 

if you need assistance setting this up talk to some local professionals.to your point you, should certainly not take on a payment you can't afford - and only you know what that is.  

However, if your father inherits and later transfers the home, it should qualify for a step-up in basis to fair market value, reducing future tax liability.If the goal is to tap into equity, having the trust take out a HELOC may be a better option, avoiding California Prop 19 reassessment, which could raise property taxes significantly.

You should vet the company to ensure they have the resources to pay the rent.You ALWAYS do background checks on the people living in your property because if you let in an axe murderer and they harm someone, you are likely to get sued.Whether or not you charge an application fee is up to you.  

Rents will go up.

Transparency is key—being honest will help you avoid unnecessary stress and ensure peace of mind.

I have been to RE meetups in the past with like-minded everyday investors pursuing similar goals, sharing stories and learning from each other, running through numbers, sharing network contacts, and even doing deals together.