Essentially, I am purchasing with the intent to rent to my mother-in-law and her kids who has section 8 housing and who’s housing voucher could cover enough for fair market on a 3 bedroom home.

I personally love the beach and would love to have a property there if it wasn't for mother nature.

I would aim for a house with a basement apartment or mother in law. 

@Phat Dao A good use of that extra space we’re you were thinking of adding that gauge could be adding a ADU(guest house or mother-in-law sweet) that will add $500-$1,000/m (depending on the local market) that is my go to to add value to a home if there is extra area to build.

Mother in law unit, adu, detached garage/shed, split level, basements are all examples of ways to do this.

Increasing Square footage adding a room/bathroom converting garage into a bedroom adding an ADU or mother in law suite. 

Ask your mother and Father what they want done about the house--he has been living there free for a reason--maybe they will just deed it over to him.Maybe they like him more than you--or maybe he's the kind of person that needs more help than you (in your parents estimation).He has been living there free and clear for a long time.Here's an odd thought--maybe you were adopted and don't know it (seriously).Somehow he received a free house and you did not.Also you might want to look into living trusts (done by an attorney). 

Purchase price: $400,000 First property and deal – scored an off-market SFH with a mother-in-law duplex.

All the major components were updated and I added plumbing for a basement mother in-law apartment.

I plan to help my mother refinance her mortgage to take someone out of the title leaving her as the only title owner.