Or maybe even an apartment complex 20-50 units 

Quote from @Jarret Jarvis: Hi Anca,It sounds like your parents are in an exciting but complex situation—kudos to you for helping them navigate it!

In my experience that either means there is something prohibitive in the zoning, or there simply is not much demand for that sort of product if most people either go with an apartment in a large complex or rent a SFR.

Self-driving cars are potentially amazing, but they need to capture a lot of nuance and complexities.

With countless loan options, complex terms, and strict lending criteria, it’s easy to feel overwhelmed.

I wish I could find a STR rental without an HOA, but I'm looking primarily at 2nd or 3rd row from the ocean condo complexes and they all have HOA's.

Financing and Complexity: An LLC can make financing more challenging and expensive since banks often offer better terms on personal loans for real estate than LLC-held properties.

I also had horrific PMs, particularly involved with a 48 unit apartment complex in Houston.  

So it sounds like it will be "tax-free" initially, but when the complex is sold after about five years I will be taxed on those monthly distributions.

I have several opportunities to snag up a self storage complex and a 18 unit apartment complex on creative financing .