After they have some experience they can decide if other markets are likely to suit them better.  

You have access to the Starter plan with your Pro membership, but you also get 15% off the Individual plan as a Pro member if that subscription suites your needs better.

There are also other loan programs out there that are better suited if it does require renovations.

Which reminds me that I should mention that I’m not opposed to living a not-so-luxurious lifestyle in the short run.

Provided I can establish a solid investment plan tailored to their financial needs/comforts such as debt ratios and income, they would be more than happy to offer me some financial control.Additionally, If I wanted to, for the sake of building my own personal wealth, I admittedly have the luxury of taking a loan from my parents.

These are the high-end, luxury properties in upscale communities.

Ft)Luxury ($175 x Sq.

Known as an Improvement or Build-to-Suit Exchange, the process requires a Qualified Intermediary (QI) to hold the proceeds, and an Exchange Accommodation Titleholder (EAT) typically oversees the improvements.

They were a law firm who hunts class action suits to go against companies. 

This is a unique home and it actually has a full kitchen, 2 bed and 1 bath downstairs and I think it might be well suited as a very large vacation rental(entire home) or both floors being rented separately at some point in time.