I'm currently helping my aging parents, and I need to be spending more time taking care of them.

You’ll have to be very lucky or willing to buy a problem child property and/or neighborhood.  

Sorry to rebuff your favorite influencer with an office at their parents' kitchen.14-day free rent aka Augusta rule loophole.

My purpose behind my decision to pursue REI is to gain financial freedom for wife and I, my future family as well as have the ability to make sure my parents are well taken care of once they reach the retirement age.If I had to label myself I’d want to be known as an open minded rental investor for all long term, mid term and short term investing, with the occasional flip for quicker capitol to put back into another rental.

Quote from @Andrew Syrios: So basically note investing is really trashy and you're looking for a continuous stream of income but instead of alimony or child support it's loan payments instead? 

Lenders will allow parents to be a non-occupying co-borrower on a home your college student plans to live in.

I also would like to get a house for my wife's parents.

I went through the same thing a while back where I ended up with over $100k in debt, overdue mortgage payments and child support to pay.

Say you got a neighborhood in suburban Georgia with a certain type of industry in the area, well, okay, cool, but you're gonna have a 24-year old recent Berkley graduate still living with their parents to manage the property!

@Lauren Cutchen Bought a house where the sellers child had scratched his name into the stainless steel fridge door.