Buying a place with equity from parents' house?

[Jon Deer]

Hi Guys,

I am looking for some advice. My wife and I(no kids) are currently renting a place a 2 bedroom condo with 2 underground parking for $1430 and I recently I have been thinking of buying a house cause I want to get things rollings a bit. I recently got my realtor license and I am currently practising that with no current deals in line as I am pretty new. I also have a full-time job until things pick up as a realtor. 

I have been thinking of buying a place for ourselves with a down payment of about 100K which I will borrow from my parents cause they can take about 100k equity from their residence. 

My plan is to buy a place in the range of $200-280K with a walkout basement so I can rent it while we are living upstairs. With the rent money coming in, I am planning to pretty much pay as much as I can towards the mortgage and hopefully, get it paid off and once I pay it off, I am planning to move to another place and do the same.

Is this a plausible plan or am I crazy?