Is this for a partnership? 

Given our goal is to maintain our partnership and profit together as we take on more projects, any insight on our approach or direction to get started would be great.

If you are creating a customized partnership, you might be headed in the right direction to make sure everyone knows their split and role.

If you decide to enter into a partnership make sure you have a contract that outlines the terms and conditions in detail.

For argument's sake, let's say you need $20K worth of rehab4) Open a bank account for managing this property, and put about $10K in there for emergency repairs5) Split the leftover funds with your dad and lease out the propertyOf course, before you start any of this you need to hammer out a partnership agreement with your dad so that everyone is on the same page and knows exactly how things are going to work.  

If you need to raise capital and/or create partnerships, it becomes a bit more challenging and I would suggest linking up with a mentor.

Disregarded entity, partnership, S Corp, C Corp?

Other ways are partnership or maybe hard money. 

It is a partnership and it has to be a give and give relationship.

Besides partnerships and educating myself, I am open to all suggestions.