Thanks for all the comments, specially about the tax exemption (that was not on my radar!). 

Special form.

Also, I'm not sure what other assets your parents own and the size of their estate, but there is a major change coming to estate tax laws in 2026, that depending on the size of their estate, gifting may be something to consider while the exemptions are high, which comes with its own sets of pros/cons.  

Some of the stricter regulations you could see include an 8% transient occupancy tax, the owner (you) having to occupy the residence for 180 days per year, reapplying every year for a provisional use permit, limiting number of occupants, and special permit fees ranging up to $500 per permit with a public hearing per permit.

And on the other side, I've seen some vacation rentals that are otherwise nothing special but they put in a cool wall of bold wallpaper, pay for nice furnishings and develop a vibe and they outperform their competition. 

I have met contractors that specialize in one thing, i.e. concrete, that believe they can do everything.  

I specialize working with investors and would love to have a conversation and see if I can help.

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

Hint:  If you talk to an attorney that specializes in creating LLCs for real estate investors, you will be sold the deluxe package. 

Do you guys have any companies that specialize in VA loans and may know more about the VA process then Quicken?