My angle would be to purchase, repair and flip...maybe hold and rent if the numbers work out.  

This is less of an issue when the pool of buyers isn't restricted because someone always seems to like how our remodels work out.

Your bio should include what kind of properties they like, what areas they work out of the most, how far away they are willing to go, how much work they are comfortable with doing and obviously there name and contact info. c) 2 contracts, "Sales and Purchase Agreement"(this one is between you and the seller) and "Assignment of Contract" (this one is between you and your cash buyer) I have contracts if anyone needs them! 

He has expressed his desire to work out a sale of the property due to his age and lack of motivation to continue being a landlord.

If you are able to find good enough deals and you know the right folks, you will be able to make things work out in one way or another.

Typically, if they just give you money and you do all of the work you can work out a 50/50 deal.

I will let you know because I am going to meet with my friends father sometime soon and if I don't think that'll work out I will definitely take your recommendation.

This is a little bit ahead of my training program, but the opportunity is pretty solid and the numbers work out very well, so I want to jump in.Any insight will be GREATLY appreciated!

Didn't work out for a few reasons...Yes, you can get in trouble for renting out an illegal apartment.

Just ask your banker if they would refinance a cash purchase and make sure it will work out ahead of time.