Not sure what the interior will look like, but hopefully you have photos of prior to occupancy, so that you will be able to claim against their security deposit, and a judgement for past due rents and any damages

I’m moved to have secured my first deal!

Option Fee, Security Deposit, etc) can you do it with no money out of pocket?

Like the others said, I don't see how VRBO would even know you had a direct booking, or what would make them think they're privy to commission on a booking they didn't secure.

Cons are the liquidity event that your parents will have to do to purchase the home (I assume the funds are in some sort of investment today so there's likely some tax ramifications on cashing those securities).

Sometimes, bridging these emotional gaps can be the key to closing a deal.

There’s no specific IRS rule against refinancing a cash purchase and deducting the interest, as long as the property is used for investment purposes and the loan is secured by it.

Your conservative approach to estimating income provides a solid buffer, and the strategic location adds a layer of security.

@Joe S.I would say BP does a good job as well as its membersFor example when peerstreet went under people were on BP blasting them because “they did not know” they invested in unsecured debt because they noted they invested in secured loansBut if you read the literature it was clear the investors were unsecured even though the company invested in secured loans (which this structure is not uncommon) - they were called out for this.There are components related to communication that cannot be verified unless posted but most documents and property transfers (like the one I assume is referenced in the start of this post) cannot be disputed.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.