I would not buy the business for the exact same reasons you listed in the cons. What if, after the deal, you make a decision that he wouldn't have made? Or if

I would not buy the business for the exact same reasons you listed in the cons. What if, after the deal, you make a decision that he wouldn't have made? Or if turns out your skills as an entrepreneur are not what he, or you, thought they would be? That's not something I'd want to discuss with my father-in-law... Why don't you propose to become a partner? So you can taste what is like to be on his shoes, he can mentor you not only on the industry but, most importantly, on how he prefers to run it. Then if all goes well, you'll buy his part and he could retire or pursue other ventures.