Hi Kevin, welcome to the community! 

You're better off self managing or going with a local company with boots on the ground.

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

The second thing would be simply the costs, themselves.

. :) Wishing you the best in your business. 

In addition to the interest of the loan, you'd also be paying this as well. 

In short, you ride the 'coattails' of the previous owner's taxes for the first year.  

I have a large network plus in depth knowledge of the process to get a project like this off the ground. 

To only invest $5k into the deal with those returns is fantastic. 

Also, with a VA assumable, if the one assuming the loan is not a veteran, then the seller (veteran) entitlement will still be tied up in that property.