They are monitoring what I do with the money, in the sense that they’re withholding a certain percentage of funds and requiring me to have inspections done, etc., as a way of ensuring that I put it towards a renovation and not just walk away with it.

I'm 26 yrs old and living in my parents house (3 bed, 2 bath, ~1300sq ft) in a relatively low cost area for NOVA (Woodbridge VA). 

I live at home with my parents and don't plan to move out unless I get a good job out of town.

I agree an attorney would be a great idea, but what I've found with my own parents is they use their "old friend who's been an attorney for 47 years" who doesn't know jack about real estate.First, I you've come to the right place, please try to find an attorney on this forum who has knowledge and experience on the subject.

As of now, I have saved up enough money for a down payment on a fha loan, and my income is expected to meet the loan qualification criteria soon (with my parent co-signing due to my limited income history).

They work, have parents, student loans, grants, and scholarships to help offset housing.5.

My parents recently questioned why I don't buy a house because they think that's what every smart person with money does.

I'd also find out if this is temporary (ie one of them lost their job and is looking for a new one) or if it is permanent (ie they are moving in so the parents can help take care of the kids while the parents work).

I am going to try and explain my question well, but bear with me.My parents and I split a 12 acre plot of land.  

I joined BP back in 2023 and haven't done anything in real estate due to family responsibilities with a parent and kids.