? About My First Property W/ A Co-Signer

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