New member in need of some investment advice!

[Natalie Hahn]

Hello Biggerpockets, I’m new here and a college student. I don’t know much about investing, but I’m here to ask for some advice on what my parents should do with their RE investments. They’ve invested in RE for many years but their investment decisions were made mostly based off advice from relatives and their own gut feelings. So I wanted to ask you guys what your thoughts are and get some advice from experienced people. My family lives in the Bay Area and have the following properties:

1.) 5-bedroom SFH (their current home) - comps for similar houses in area are around $2 mil, mortgage is paid off, old house and needs major work if they were to sell

2.) 2-bedroom Condo –comps are around $600k, still have $300k remaining in mortgage, currently leasing it out for $2500/month which just barely covers the mortgage payment + HOA, in pretty good condition and needs very little work to sell

3.) 3-bedroom SFH – unoccupied and worth about $1 mil+ according to comps, used to take in about $3000/month from previous tenant, needs major work before selling ($200k+)

Does anyone have any thoughts on these properties and some general advice on what they should do? Their goal is to grow their money as much as possible through rental properties. Thanks for reading my post and any suggestions are appreciated!