I was worried the tenants were going to smash the house after I left, but it does seem like the simply left after my departure. 

I simply send the background and credit check to the tenants and they have to pay the charge through the check.

I wish you well, simply make sure the area is right, otherwise the deal could sit on the market for a long time and the hard money lender will be the only one who makes money.Lastly, be very careful with the contractor.

However, unless I was to go the private financing route, I simply wouldn't have the capital to rehab a house myself yet.

Or does it simply mean the setbacks and heights must align?

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the BP Podcasts, #askbp Podcasts, BP blogs and BP webinars.

Below are what I know as options.1) Conventional - My dad gets the lump sum, but I don't get any benefit 2) Land Contract - My dad wins the "long game" with financing it to me, maybe he'd offer a price break.3) Living Trust or Land Trust?

Win, Win.  

You already have some tools in your toolbox....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/invitesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

To be more successful, you simply have to work on the other elements to progress your REI pursuit.