subdivide? joint tenancy? lifetime interest??

me: 36, disability pension for last 2 years (approx 20k pa not inc rent assistance) due to heart failure/surgery, reduced capacity to work but prob no significant impact on life expectancy. been renting until recently 300/week, now 200/week. 6000 max (bal 5k) 60 month interest free ge mastercard, 150/month. same sex partner of 8 years, 25, currently on austudy. townsville nth qld.
my parents (divorced).
dad: 65 retired, owns home valued approx 300k, 809sqm block (possible battle-axe). very risk adverse, exposure is not an option. cashed in his 170k super as believed having it in his bank account would be safer should we experience round 2 GFC! Receives part pension. no debt. would consider gifting me half the block his house is on if it didn’t cost him anything/affect his pension.
mum: remarried, 60 working f/t approx 75k pa gross. her husband owns their house, should he pass away first she has lifetime tenancy but the house will be passed onto his son. he also has an investment house, at the time of purchase about 10 years ago, he was self employed so mum signed as guarantor. besides this she is debt free. mum would consider an arrangement where we purchase a property together, using her income to help show servicability.
my aim is to purchase a property, build equity as quickly as possible – then reconsider options re borrowing against equity to purchase investment property, selling for profit etc. I initially thought along the lines of building behind dad’s house (dad signing house to me, him getting granny flat right) but borrowing against that equity would expose him to risk. Any alternative suggestions?
Another option i’ve thought of is for mum and i to combine our borrowing power and purchase something as joint tenants. I thought there could be tax advantages for her to do so. Perhaps a property needing cosmetic improvements for a profitable quick resale. Although if we were to buy new/build I think we would be eligible for FHOG too. Also I do have a friend who will sell me a 2br queenslander cottage (which has heaps of character, 3m ceilings, exposed timber frame, wood panel walls & ceiling, very steep/high roof), which he had moved onto his grandmother’s double block a few years ago but done nothing with since then. I could buy it for 10k, relocate 15, rough estimate for appropriate reno 50-70k (inc. new kitchen, bathroom refresh, roof by roofer friends, professional floor polish, paint ourselves/help from painter mate, deck), suitable block close to cbd approx 150k. say 270K cost should value at approx 350-370k. but i don’t see borrowing to relocate/renovate being an option, just thought i should mention it.
Nearly forgot to mention, if my mum and i had a mortgage in both our names, with a linked offset account – my dad would probably be comfortable with putting his 170k in the offset facility, and have us pay his current interest earned which is approx 3%!!
Any suggestions would be most appreciated as to how I can work some magic and get started making my fortune (i’d settle for just paying off my own mortgage instead of someone else’s even). Similarly, any reasoned advice suggesting I am off with the fairies will also be appreciated and shall not offend.
If you’ve read this far, I am most grateful. cheers.