If you provide more details on the home value, existing mortgage remaining and what the interest rate and payment are you may get some better advice.Is your dad willing to take that $100k of equity over time instead of all up front?

Most DSCR lenders will want to see a minimum property value of $75k and minimum loan amount of $55k  

But the real question is given the growth rate of the Greenville, SC is it ok to rely on Equity on appreciation of house for the long term?

Purchase price: $84,000 Cash invested: $10,000 Sale price: $165,000 Single family home (manufactured) What made you interested in investing in this type of deal?

Welcome to the community and be ready for a huge amount of information at your finger tips.

Hi Braeden, my advice would be to shop around for other companies if that is the initial quote you got. 

If they are not happy, they can leave at the end of the lease.  

It's the least riskiest way to own income property in my opinion. 

@Jessica HowellIn the operating agreement we typically put like $1,000 as initial contribution.

Most likely because of their attractive flat fees!