Account Closed, to piggyback off Emma, you'll 100% want their parents to co-sign the lease. 

I would want it eventually in only my name but my parents would help with any situation I need (cosign, coborrow, down payment, or even buy it maybe), however, I just need to get out ASAP. 

If outlined in your lease clearly, my method should prove effective; if a tenant complains about wrongful withholding of the security deposit for an unknown water bill, that withholding dispute will be resolved before it can go anywhere. 

I'm sure your parents are proud of you!

Phil,  @Philip ChoiI disagree with your parents.

You can setup a series LLC where each property is in it's own LLC under a parent LLC.For 2 properties, I don't think it is necessary.

@Don Konipol  Of course one of the pre requisites  for many of these guys is to claim they were broke and living in their parents garage and now look at me with this system I created  ::)  I saw it in the foreclosure rescue direct mails a lot too.. went something like this..

Do transfer direct to avoid fed 10% withholding.

Hey @Evelyn J Good,My parents actually just did this in their home in Orlando.

Three years ago my wife's father bought her a townhome for 250k cash. They are both listed on title of the property and my wife has been using it and paying primary residence taxes on it. I got a new job out of state ...