My wife just beat out 12 offer scenario as she is pretty good at this.. and she insisted in presenting the contract to the seller in person.. it was kind of cute..

I only say this option because if your dad is stubborn and insists on keeping the house, he is going to have to do something like this.

Furthermore, some cable companies will insist on using their own run of their own wiring to the actual cable box, partly because they don't want to trouble shoot something not working which may include a piece of wire not put in by them that may or may not work, but also they want to make sure they know how many splits you have, to how many TV sets, as in some locales they can charge you more if you split the signals and use cheap Chinese knock off converters and descramblers.

---So, insist on them providing the rental application and supporting docs for your review.

We have landlords in this very forum insisting their tenants are savages and should be treated like animals.

But once, we had a new inspector insist that we repoint a foundation - on a building that had passed inspection many times.Our experience has been that if you are going to take Sec 8, best to get in a family where Sec8 pays the entire rent - cause it can be hard to get the tenant to pay their share, even when they know that ultimately they will be kicked off the program if they don't pay their share.  

To get a W-2, you would need to form a C-corporation, make yourself an employee, and have the corporation pay you while also withholding income taxes, FICA, SUTA, etc.This leads me to a more simple plan: if you insist on an LLC, you'll have to report the income on your personal return, so a bank will see the income anyway.

:This is part of why I insist your first deal better be a damn good one, contrary to BP repeatedly claiming that it doesn't have to be. 

---So, insist on them providing the rental application and supporting docs for your review.

Maybe I should be more  specific.I know what equity is.But I seen some videos of youtube where the speaker insisted the importance of 90%+ equity is crucial.So that is why i asked the (general) question.