Like I said if you so not stand to lose or suffer what's the harm in giving them an additional month?

Additionally, if you really want to find a deal this way you'll need to keep on marketing to these people.

These are professionals with additional training and a stricter code of ethics.

These are professionals with additional training and a stricter code of ethics.

In addition, they have always paid my $50 late fee, which compensates me for allowing this behavior temporarily.

Your equity is reducing your possible returns not increasing your cash flow.If your father has no use for additional income he could leave it where it is and not care if it is impacted in a market shift or he could pull it out and invest in a income fund or a REIT. 

I’ve been using my self directed Ira though these platforms which has been a pretty simple process.

I know I can't live in this house if I do self-directed Ira but someday I would like to live there. 

The below link takes you to a BP post that provides some additional information on this: https://www.biggerpockets.com/forums/93/topics/493...

I was quoted an additional $70 to have it done.At first glance seems like it's worth having done and if it is detected negotiating it out with the seller.