Although you can completely finance the deal (0% down), you will still need some money for closing costs and/or the funding fee.

That said, I'm not completely opposed to sharing ownership if it were mutually beneficial. 

It was a small two bedroom house that I completely remodeled myself and it has done well.

It's hard to say if it's better or worse, it's a completely different investment. 

If you're purchasing a house to flip vs. rent, then the ideal property might look completely different.

@Stephen Hood your idea is solid and shows good potential, but here are a few things to consider:Private Lender Terms: Ensure the lender agrees to the 1% origination fee and $2K monthly payments—some may require a higher interest rate or balloon payment at the end.Timeline for Sale: Factor in potential delays with selling your current property or completing renovations on the new one, as these could impact your refinance timeline.Refinance Feasibility: Confirm with lenders that refinancing at $500K is realistic, especially after recent rate increases and appraisal expectations.Exit Plan: Have a backup plan in case the market shifts or repairs take longer than expected, such as extending the private loan or bridging with a HELOC.If you can lock in favorable private loan terms and stay realistic about costs and timelines, this could work well.

But if properties were reasonably monitored after-hours, this might reasonably solve for being completed automated with property tours.  

I spent considerable time pulling comps and estimating fair market value, but given the unique features of this property, it was challenging to reach a confident valuation.

I completely agree—knowing your target traveler and adjusting your approach accordingly is crucial.

Your parents and you could probably use a really good Elder law atty in NY as well to look at how best to structure their ownership and passing to you.Nothing wrong with selling to a related party and completing a 1031 exchange.