Next Step to take for New Investor

[Gerardo O.]

Curious to gather everyone's insights on what the best approach to paying off the remaining balance of an existing mortgage (CA) is, while setting the proper foundation to build future wealth through a portfolio of properties.

My parents still live in the house I grew up in (Central Valley) + don't plan on leaving for several decades. With my dad's job taking a hit due to the current pandemic, he's asked me to find the best way forward. Is it best for me to:

A) Assume the mortgage and pay it off outright. Then save again for another few years, until I have enough for a down payment on a property where I am (Bay Area), that I can house hack or, 
B) Assume the mortgage and pay it off over time, while deploying some savings towards a down payment on another property in my hometown (I go back every 2 weeks) - handling 2 mortgages at once. 

I could just pay the mortgage and leave it under his name, but I figured if I can build credit then why not. If there is another option I should be taking into consideration, then please let me know because I am here to learn. Any advice on things I should look out for (taxes, unexpected costs, due on sale clauses, etc.) would also be greatly appreciated.

Thank you for any wisdom you can share in advance!

Best regards,

Gerardo