@Edward Beck I am a structural engineer in El Paso (working on my license).

Sure they can if you structure it correctly.

I have tried everything from management in the restaurant business, to driving over the road in a tractor trailer trying to find a business that can grow beyond the heights I can reach physically.

Also, would it be better to establish a company for this process as we will be doing a good amount of the actual physical work in preparing the lots ourselves.

@James Green Thanks for the imput I will make sure I outline the compensation structure great point.

Some Community banks limit the number of Properties (or $) to each Legal Entity or charge Audit fees to review your LLC structure.  

Now though I am looking to grow my portfolio, and am getting interested in the idea of marketing for seller financed deals with no (or little) money down.First off, I read "Structuring Zero Down Deals" by Joe Crump.

2) Mortgages with shorter fixed rate a period than amortization.  5 year fixed with a 15 year amortization is a pretty standard structure for portfolio lenders. 

I assume so, but I want to make sure here.How should I structure the deal with my father so that it's professional and makes him money, assuming a positive outcome on the flip?

This is something that a tax attorney who specializes in ERISA law and has specific knowledge of self directed IRA LLC structures will be aware of and able to advise a client on.