I suppose legally you could, if you fully disclosed the non arms length nature but, no lender in business, or wanting to stay in business would do it.At the end of the day, what you want, while it may make sense to you and your parents, just isn't a scenario that happens.  

It's monopolistic in nature especially when it comes to transaction involving a commission.

You also have to be with an agent who fully understands the nature of zoning and regulations.

Nonetheless there is always a time for new blood and skin to the game, so looking for contacts of Good/awesome/great PM in mcallen who are creative and well connected in the Mcallen area.

But, life seems to go on for them...On a slightly different note, I think the nature of your investments may dictate how you structure yourself. 

Cedar offers natural resistance to rot and pests with a great look that can enhance property value, but at a significantly higher cost and it requires regular maintenance to retain its appearance.

A similar situation would be like when New Orleans flooded and people were displaced in mass , or another natural disaster .

Trying to figure out if this is natural settling or we should provide reinforcement to the beam to prevent further settling. 

You just need skin in the game.

The natural gas boom in the area has brought a ton of out of town workers who need a place to rent.