Investment Info:Single-family residence buy & hold investment.

I currently own my primary residence and have about 60k in equity.

Totally emotional questions but I tend to feel that paying off a primary residence earlier is better because you never know what the future holds for you and your income. 

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.

Get a great realtor who knows and understands what homes might qualify for FHA and which might not. 

It's great if you qualify, it has many benefits.

If they want to bring on a new roommate, you screen them like anyone else and if they qualify, great- you can talk about amending the lease at that point, but that is only a courtesty. 

Not practicing law in your state though, so you need to consult a qualified lawyer in your jurisdiction to see what to do

That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

I do qualify for being a broker which comes with some additional education etc.