Typically they aren't willing to do a gut reno for instance, but I've seen sellers put on a new roof/new paint etc. 

My kids all have memories of dad coming home after work, only to head to a new project where we would do the construction ourselves from 6pm until midnight.

I don't know...still trying to think of new ideas to make sure we have a roof over our heads.

@Yannik Cudjoe-Virgil Thanks for the heads up on this one.  

I am not a psychologist but it wouldn’t hurt to maybe befriend one or two experienced in negotiations to help you plant the seed in your father’s head that it is his idea.

Take brokerage for instance - with an MBA and passing your RE agent license exam, you'll have the ability to jump right into the large commercial brokerage groups - like CBRE, Colliers, JLL, ect., but your eventual success will be most benefited by a strong and supportive mentor who you can train under.

While I would be cautious here given how things developed, I would think that if you have done all of the relevant background research on the original applicant and he met your criteria (3x the rent plus the stuff I mentioned above - you'll need standards so you can treat everybody the same) then it wouldn't matter if he added someone else as his income and credibility should sufficiently cover.

I just helped one investor in Nashville for instance on how to research hidden lots.. and she found one straight away in the right venues there is HUGE money in finding build able lots that are hidden on OLD plats and not easily found. 

Buildings this bad can get real expensive fast if you get in over your head. 

I think you hit the nail on the head with this one.