@Kyle Cross, correct me if I'm wrong, but I think maybe what you're getting at is potentially pitching to your parents that you would like to take a shot at personally managing the units to gain experience and some form of compensation.

My expertise is deal analysis, buy and hole strategy (creative financing) and personal finance. 

Does anyone know stats on this or have personal experience in this region?

I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move. I would owner occupy it so I don't know if I have a...

It's important to understand that a person can sue another person, but that doesn't constitute a judgment.

I am not sure if the Legal person I talked to understood the length of her time there so that could be the confusion. 

This exact strategy could change that person's entire future!

IF it was not on an auction site none of the information would be known unless you do your own research. they could say its a 3bed 2 bath home and you go buy and its burned down (seen that before). 100% is on the person bidding at auction.

Quote from @Elizabeth King: I have a property in my personal name that I plan to rent annually. 

Personally I’d wait and see what happen.