Fifth, elements outside your planning or control can increase expenses significantly; tax increases due to budgetary shortfalls, insurance costs doubling due to natural disasters, tenant damage beyond what the security deposit will cover.  

I am planning on holding this long term for appreciation. 

Investing in rental properties sounds like a great plan for creating extra income.

Don't bring anyone with you because the tendency can be to rely on them to remember or understand and you need to make sure you are doing that and taking charge.What was your dad's plan to flip it in a year? 

Discussion has been around 4 month during initial lease up.I am not planning on going in all cash, but likely a 50/50 debt to equity.

Are you planning on going for a SFH or what do you mean by upgrading?

Regarding OOS purchases,... how often are you planning to drive out to the property anyway.

Two defendants said they plan to appeal while another is considering doing so.

Some people keep the deed with goofy title vesting plans.

My plan is to rent out two of the rooms to help cover my mortgage payments.So far, the property appraisal has been completed, and I've set up home insurance.