I am primarily staying with multi-family properties as they provide high cash flow(and you know what they say about cashflow…).

Also, you may have to go out of state if you want cashflowing properties, if you’d rather stay local then hanging on to those wouldn’t be the worst idea.

They are dealers so they only  one time moved or two if you count from manufacture to them to end buyer 

A good dynamic pricing utility like wheelhouse or pricelabs can optimize price and minimum stays throughout the year.

Stay away from those large projects until you have contractors that will do what u want everyday, the contractors cause the majority of headaches on these jobs, good luck in the futureBigger is not betterStay small

If your goal is to just keep low risk cash flow then just stay where you are.

What I saw during the last drop is that rents stayed the same they didn't go up but they also didn't go down expenses stayed about the same or even went slightly down as contractors became less busy and we're willing to work for less.

I'd see if the tenant is interested in staying in the place for another year, maybe with a small increase in the rent (let's say from $775.00 to $800.00). 

I sent the tenant a certified letter to introduce myself saying I’m the new owner and she’s welcome to stay if we sign a new lease.

If you Dad stays on the title as an owner he will need to sign loan docs etc, i would rather keep it simple too, but its not a big deal to have your Dad involved if you have good understanding with him.