The second property will be purchased with a mortgage (you can determine how high or low the leverage will be by adjusting the proceeds you use or the price point of the 2nd replacement).You are adding some measured debt at a level that your dad can be comfortable with. 

If you're looking for more connections, I would highly recommend attending some local real estate meetups in the cape cod area.

MICs generally charge a lot in points and have high rates, and typically won't lend above 75%-80% of purchase.Some brokers will also have access to private individuals who are willing to lend, which can be more flexible.

Ouch... 75% set up fee sounds really high.

Due to the rising cost of buying a home or paying high-cost rent.

Here's a few things I highly recommend, start by tuning in to the BiggerPockets podcast.

But with mortgage rates the way they are and with inflation high do you guys think its a good time to buy?

Obviously you want to push rents as high as possible, but you've got to know how to stop before creating an artificial turnover.

I would also say there are even fewer "high end" 4 unit places in the metroplex.

I highly recommend working with a real estate focused tax pro to explain your specific strategy, so you can be made aware of any pitfalls that could get you into trouble.