Helping Parents House Hack

[Jas Gill]

I've been diving into the world of real estate investing and something that intrigues me at the moment is multifamily investing. I'm also currently exploring buying my parents a house as they get older and inch towards retirement. I believe they would be really suited to a multifamily as it will allow my father to manage the other unit (he loves managing things & it wouldn't be healthy for him to sit around idle).

I would want the house in my parents' name so they can "house hack" with the low down payment (which I will pay). Has anyone ever done this? What are some tips you can share? My parents don't have the greatest credit scores so I'm not sure how easy the approval process will look.