I totally agree with you, Anthony, and it makes much more sense to me now after reading your response, so thanks again for sharing.Another long-term goal of mine is to own and operate a vacation rental in Orlando/Kissimmee.

Our preliminary 5 and 10 year goals are $1M and $10M in leveraged assets, respectively.

It was all rented, good cash flow after all expenses paid, got a good price (needs TLC but not falling down, hey, its all rented) so I can rehab later (little by little), maybe do brrrr and my goal is to pay it off in about 5-7 years. 

Our goal is to rent the back unit out for a couple years cutting our mortgage payment in half or so while we stockpile cash for our next deal. 

Any other time to target (Spring to early summer) or is the main goal just to lock in a good deal and take it from there? 

So too will the utilities and likely faster then the rents. 

The goal into looking into this was to see if there were any advantages to my father renting this house back through the LLC vs. owning it as his personal property. 

It isn't bad or good, it all depends on a persons goals and level of involvement, or lack of involvement, that they want. 

And I was able to meet my goal of closing on our first property by the end of the year. 

My goal is to house hack with my first investment property, but I'm open to going other routes if they make sense.