Looking for guidance for my parents

[Wayne Renbjor]

My Mom inherited a property in South America. She is going to sell it in May 2022 and all said and done will end up with about 200k in her US bank. My parents have rented for over 20 years and never bought a home. They are getting advanced in age and just wanted to understand their options. As you would expect, everyone in the family has their onions but none of them have any real estate investment experience. My parents tasked me with finding out what they could do. My Dad is retired now and has no working income. 

I don't think they can get a mortgage but what I know about so far is that they can:

1: Buy a home outright (or land and build) until they pass and I would inherit it.

2: continue to rent

3: I had though that there would be a way they could get 2 or 3 or more properties in one shot and turn them into cash flow

3 (if possible) would be best because they would have steady income to pay for their cost of living and in the end I would end up with a jump start to be able to leave a legacy to my own kids. The reality is though that none of us have any real clue what action to take.

I would love to hear some advice or be pointed in the right direction to read and learn about what to do on my own. Thanks in advance!