There has been research done on the topic and it’s just a common theme found from analyzing financial habits of wealthy individuals.   

@Craig A.As others have stated your father should be working with a financial planner for tax strategies, investment advice, retirement planning and estate planning. 

I would be very happy if anyone could link me to any resources or individuals that could educate me on this as well1 Thank you in advance.Sincerely,Gabe Yes but it depends.

Here’s some clear advice to help you navigate your journey.First, education is key.

Are you financially ready for that?

Financially, I'm not taking out a hard money loan. 

Have you had tenants who seemed qualified on paper but turned out to be financially unreliable?

The financial of property is good:      DSCR = 1.3; LTV = 45%;Both my liquidity and net worth passes Chase's test.

“Section 3: Financial Information — Real Estate.

Lucas, I respect your willingness to step up and take on property management, but I want to strongly caution you (and your friend) about the risks of managing a multifamily property without experience, certifications, or financial investment in the deal.