It went decently well as far as receiving monthly payments, never got the return of capital or equity as promised.

Depending on what you want to accomplish as far as asset protection or just general business operation.

This is so far my best real estate investment.

As far as financing, with the brrrr strategy I would need to wait until I have some equity in the property correct?

As far as tapping into the equity without doing a refinance, we offer some great HELOC products which are especially good for funding short term deals like ground up constructions or fix and flips.  

As far as you parents, I would put your financials together to walkthrough with your parents that detail out the purchase, mortgage, expenses, cash flow, appreciation, etc. 

It's totally within my "range of comfort" as far as distance from me.

As far as keeping income and expenses just use excel.

I'm comfortable with all of those, but I know that there is so much more than goes into your return than just those three main levers.Specifically, I'm getting hung up on 1) financing, 2) closing costs on both ends, and 3) holding costs

Similarities to self-management but there is so much more to learn especially if you want to grow your portfolio and add investors, or other landlords into the mix.