? About My First Property W/ A Co-Signer

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I currently am awaiting settlement from an insurance suit and my father is going to co-sign on the loan with me, and have legal papers drawn up with a plan for re-payment.
With him as a co-signer, is there anything I should know/watch out for when it comes to any of his rights as a co-sign?
I am 20, and this will be a 200k condo for my primary residence. 2/bed 2/bath w/ loft(possible 3rd bedroom)
Any help would be appreciated.
~Andrew

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