Parents getting kicked out of house ... interested in buying one for them ... help!

[Jason Schmidt]

My parents have been through many problems in the past several years - from a kidney transplant, to heart attack, and more, my folks have always paid their rent on time, but their other bills have suffered.  They work VERY hard, and don't get paid much.  Their medical bills suck up all their money, and they refuse to get any government help.  

They recently found out their landlord is moving back into their house on October 1st, so they are very depressed, and worried that they will be unable to find a place to rent due to their rent.  I'd like to consider buying a place for $65-75k or so for them to live.  In doing so, I'd like to use this as a springboard to get into real estate investing.  

Can anyone give me any tips on finding a livable place in a decent neighborhood that is going to be a good investment?  I'm in the Houston area, so I think it may be tough.  They have a limited amount of time, so I don't have much time to actually dive into books and such again, so I guess it is time for me to just dive in and DO it.  

Any help (or even leads!!!) would be GREATLY appreciated.  

Thank you!

[Jerry W.]

You might consider a duplex and have a built in property manager in your parents.  This may make your parents feel better about moving in if they can help you in return.