Based on your portfolio, you are at least the parents paying for candies ;) Hope you find this BP community helpful!

I’ve been trying to find more info on if I would qualify for the parent-child tax exclusion through Prop 19.

Rent vs AirbnbI’d prefer renting the property out but with Airbnb we have the option to still use it when my parents are back in the US or I’m in town.Background: my dad/mom live overseas and stay in the house once a year for 2-3 months only.

Based on a quick search, I did not see any governmental agencies addressing this particular question.LA county assessor says the child must make the received property his/her primary residence within 1 year, and must file a valid Home Owners property tax exemption. 

Unless you can qualify for the parent-child or grandparent-grandchild exclusion, you may want to evaluate how a property tax increase changes your willingness to purchase and timing for doing so.  

Prop 19 is pretty limiting now with allowing children to retain a parent's assessed value for real property. 

to the second question.Once the child/ren moves out, it will get reassessed.

I grew up in Southeast Houston, Texas with my sister in a single-parent household after my parents divorced.

Both of my parents recently passed away and left me a property in San Diego, California.

First, assuming the property is or was held in parent's trust, the successor trustee and transferee(s) need to file for a parent/child exclusion to avoid reassessment.