One way of doing this would be to keep everything currently in your father's name, create a living trust, and son and daughter would be beneficiaries of the trust, and properties will remain in that trust upon your fathers passing in the future, from there you will have options as to what happens. 

My wife and I are new to this community, and we are currently considering properties in Saratoga Springs New York for living / investment purposes.

You need to pass "material participation" test and personal use test, but that's for your future tax professional to explain.Yes, bonus depreciation is possible, but only on the current value of the personal property and land improvements.

We are currently using RentRedi but there is a long lead time from when the tenant pays to when the money is deposited into our account...sometimes up to 10 days.

However, you can only use those photos on an Airbnb listing, you cannot use them on listings on other sites.I can hear in your comments your concern that if you sign with Evolve your guests may not continue to receive the  personal service your PM currently provides. 

Just put a tenant in it using your current owner occupied rate! 

Only available in 3 states currently, and I happen to be in one of them.

I own 3 SFH in Detroit currently, 2 vacant and 1 occupied.

My current rentals are all in my personal name with conventional loans.

And NON owner occ only No license is required.. this is why many HML you see have no NMLS # on thier website if they are in a state that requires it and they are current and lending then yes it must be on the first page of their website just google any California lender and you will see it.