buying your parent's home and making money for both

[Ryan Chenevert]

I was wondering if anyone has figured out a strategy to buy their parent's/family members house and make it beneficial for both.

For example, my dad's house is paid off and market value is approximately $135,000.  He wants to buy a $200,000 house in a different part of town.  His current house would rent for $1,200-1,350.

Example 2: My mom's house is valued at $150,000 and she has approximately $60-70,000 remaining on her loan.  She also would like to move to a different part of town for around $215,000. My mom's house would rent for $1,350-$1,550.

My plan would be to somehow purchase both (if beneficial to them as well) and rent out.

I appreciate the help and suggestions.  By the way, I'm a newbie.