Or are there any other "creative" strategies somebody can think of for this? 

Did you buy with creative financing given that you only invest $7k?

If you find a fee based partner, be vigilent in keeping an eye on them, as there is a good chance they are taking you for a ride to make some cash that's not based on performance.In terms of finding deals that you can put together without experience, I do a lot of creative deals that banks are not involved in. 

As a young investor, you can navigate the market by utilizing creative financing options, diversifying investments, and building knowledge.

Consulting a real estate attorney experienced in creative financing methods can help ensure compliance and protect your interests.Texas has specific regulations regarding real estate transactions, and certain creative financing methods might be subject to additional scrutiny.Insurance and Taxes:Ensure that property insurance and taxes are kept up to date.

Need some advice on a way to structure a creative finance deal... 

I just got a little creative with the financing.

Since they are your parents I feel creative financing is the best way to pay them over time.  

JustinPersonally I'd use it to buy off market using creative finance keeping a healthy amount in reserves.

Any creative ideas as to how to develop?