Ensure the sublease is explicitly permitted in a written agreement with your friend and aligns with local STR laws.

Local Houstonian here - Happy to connect.

I completed an internship in commercial real estate, and I also attended a couple of local REIA meetings/networking events before moving to Northern VA.I was able to narrow down potential strategies, and I figured both BRRR as well as wholesaling don't seem to be the best strategies for me.

I recommend compiling an analysis/presentation stating that your parents will save an "x" amount by working with you instead of "ABC" local property managers.

Just focus on learning the local market, financing, and property management.

@Nitesh Chand check your state & local laws!

I would love to connect with the locals! 

Thanks so much for your advice for a local lender.

We invested into the property and came well ahead of the local market.

I always research the local market, compare properties, estimate expenses, and build a reserve fund.