I’m eager to dive into the local real estate scene and advance my journey in this field.

This will help reduce your liability and will make things easier at tax time.  

I understanding is the TN has some crazy rules and regulations that complicate this process. 

If yes please let me know more about it.I am asking this question as I am interested in buying and managing a Multi-Family or Apartment or commercial building in North Carolina ( Charlotte or Raleigh).Thanks/Regards,Ram

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

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in 12-18 months and do this again with larger multifamily.Details below.   

Have your heirs repeatMany wealthy families do this over and over again and pay little to no taxes as their RE portfolio continues to grow.

was curious if anyone has any opinions about the potential for this location.   

What would be the best way moving forward with this applicant since one does not fully meet our minimum requirements?