The only thing I would advise is to keep a close eye on the HOA fees, as that's where the cash flow can get squeezed.

Readers are advised to seek professional advice.

A successful STR needs a good bit of cash upfront and if you’re doing a BRRRR then even more now for rehab.  100% financing everything and the rehab is not advisable unless you’re a very skilled and hands on STR investor.  

So if your investing that full $200,000 getting that kind of return and you currently have almost no monthly expenses I would advise you to double down on what your doing and let it ride for as long as you can.

Readers are advised to seek professional advice.

Yes you also get appreciation, but when a total stock market index like  (IVV) returns 30% over the last year and 90% over the last 5, I have a hard time advising someone to buy a property for all cash to receive 5.3% along with the risk, property mgmt etc.  

I usually advise folks moving to a new area to rent for awhile to get the lay of the land.

As far as advising your parents to leverage the equity in the properties to acquire more deals, I would leave that to a professional familiar with the local market conditions and residential investment experience.

Geesh.The Broker also who wrote those contracts and advised their clients to make these deposits most certainly has some liability here. 

Minus re-zoning expenses- Any advise for this transition into low income/transitional housing?