Dad wants to build a multi-generational house for himself and my family. It seems like a dream come true. What do I do?

A little backstory— I (28f) currently live with my husband (30m) and our infant son in a small townhouse. When I met my now husband, I was living at home while going to college nearby. At one point, he ended up moving in with us at my family home. It was great— very little conflict, we all have a wonderful relationship and get along. We moved out shortly after getting married. Neither of us make very much money, but have been steadily working on our careers to try and get ahead, and we have built up a small amount of savings. My dad, to put it mildly, is very well off. He has helped us out tremendously in getting started (bought us a safer car, helped with our down payment). When our son was born, he started visiting our town very often and making comments about how he’d like to move up here when he retires in the next year or so.

That brings us to this week. My dad has been house hunting in our area and called me to chat. He said he wanted to find some property with good acreage and build a multigenerational home— for himself, me, my husband and our son to live in. I have always loved the idea of communal living, and my husband is on board. It sounds like a dream, but my one concern is dynamic. Before, we were living in a “his house, his rules” situation, in that we understood that we were being allowed to stay there to save money, and we didn’t really get a say in day to day house related things. Now that we are parents, I want to have a more equal dynamic in whatever living situation I’m in, regardless of who has paid to build the house.

My question is, what things should I discuss with my dad or consider before entering into a multigenerational living situation to make this successful? Also, how can my husband and I contribute in a way that can even out the dynamic in the home, considering that we cannot financially contribute in the same way that my dad can? Any other tips on multigenerational living would be welcome!

TLDR: what should I consider before starting a multigenerational living situation?