I've done it multiple times on primary residence and was just able to do it on an investment with a local CT bank. 

You'll learn what contractors are good at such repairs, and eventually people will start bringing you "problem properties" with that issue.Another related idea: contact a good local realtor and ask them if they know of any on or off market properties that would be a hard sell for most buyers. 

@Hiren Patani Ask a local eviction attorney in your area for a referral!

I flew there and walked the house, looked pretty turnkey rental grade): $1029 GFCI outlets, downspouts and guards, drywall, paint, bathroom vent$4615 (new AC unit since unit was stolen before tenant moved in, didn't file insurance claim because didn't want my premium to go up) $600 (water line, gas line, P trap)$60 lawn mowing$112  thermostat repairMy opinion is that Class C is better for local investors who are on site and know how to do repairs and self manage.

I think will find that out-of-state will be much more operationally challenged than local.

If you’re leaning toward an LLC, I can recommend some local options to help set it up.

I would outline your scenario to a few local mortgage brokers - with everything you've said this seems like a pretty easy deal. 

I recommend compiling an analysis/presentation stating that your parents will save an "x" amount by working with you instead of "ABC" local property managers.

Focus on tenant screening, building a local team, and learning as much as you can, starting early sets you up for long-term success!

Build a local team of real estate agents, property managers, and CPAs to navigate local laws and manage your property.