They would each be putting in 200k each and I would be putting in 100k and would be responsible for all the property management, being paid by the other two on an hourly rate when responding to issues.

I found that:Marketing works when you put it out there.

It would be a tough sell for sure, but you own the land and have put in for the soft costs, so that is helpful.

Individuals are motivated by those who put in the effort and openly discuss their personal journeys.Now, here's another fact: real estate investment success is achievable for anyone.

From the way you put it, your father only purchased his first house 2 years ago. 

Thanks for the info @Marcia Maynard, seems like whatever investors decide to put in a bathroom or home for that matter, tenants always find a way to damage things. 

The argument put forth for why no real estate brokerage licemse is required is that the “wholesaler” is not marketing real property, they’re marketing a contract.  

Or is it necessary to walk through with a structural and MEP engineer and a contractor before putting numbers together?

And, for those people who have more time than money, they can put in sweat equity into directly owned real estate.

I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property.