Quote from @James Hamling:If the focus / goal was to reduce risk, isn't risk best reduced via the mitigating power of diversification of risk? 

They were motivated to work hard since I would pay them a base commission for each purchase I made, and also a reduced commission on the future sale.

If your dad has the funds to cover that and then essentially reduce what he's giving you with regards to the house - then...

With a larger down payment, you can reduce your loan fees and interest expenses, and you will have an easier time qualifying for a hard money lender since you have no experience. 

Depreciation and other related costs will reduce that income tax burden owed to the state.

Then it hit me...I took the tile to the store, had them match a color to it and then reduced the color by 50% and 75%.

Keep in mind many buyers calculate/ add their own expenses thus lowering the cap rate that they see, so trying to be creative in reducing expenses (i.e. not including management even if you use it) may not be helpful.

Banks will be more likely to have an adjustable rate with a floor which could benefit you if the fed starts to reduce the rates.

If you buy the right property you can even reduce the new COR rate if you apply some of the NOI cash flow to the higher rate payment each month.Similar to a Bi-weekly payment it reduces the years owed and the overall rate by accelerating the payoff.

When there is something agreed to in writing it reduces the chance of "he said, she said", hurt feelings, misunderstandings, etc.