This is a very operator dependent answer.

Depending on your hazards it could be as painless as a grand or two or we've done $40k+ lead reno jobs on properties with tons of hazards.

@Natali Cobb depends on what is common for the area.Also, you can put in your ad that W/D negotiable and see what the responses are.

Not everyone can take off work for apartment searches.As for cameras and vacant rentals, that's very market-dependent.

Depends on where you live and how comfortable you are with DIY evictions.

I would say it depends on the market.We had converted a 88 unit hotel into MTR for corporate housing in a market with a lot of job growth.

If your parents have a Revocable Living Trust then the property would be deeded to them, depending on what their decisions are within that Trust, you can be added on at the beneficiary of that property.

Access to financing, such as 90% of the purchase price, can significantly lower the entry barrier, but success still depends on having a well-thought-out plan for managing renovation costs, timelines, and potential risks to ensure a profitable outcome.

Proper notification and time line is dependent on state law.  

For me, it would depend on how old he was when it happened, if he was <25, I'd hear him out.