Gift of Equity in exchange for freeing parents of Mortgage.

[Tommy Carey]

My parents are retirement age and my father has had to continue to work despite his declining health to pay off the remaining 100k of a refinanced loan they took. They want me to take over the loan and in exchange will take possession of the title for the house (I would likely inherit it anyway.) The house is worth about 500k now. I've never had a mortgage, I rent, and have little savings (less than 20k.) How can I free them of their payments while accessing the Equity for a loan to buy into an income property in my home city of Los Angeles (a duplex starts at 900k?) Also, If I could find a good ROI, how can I insure my parents can stay in the home and that I am able to accelerate my lack of savings. I have a California Real Estate license.