Overall, my primary goal is to create the opportunity to get into another home at minimal cost while keeping my parents in the current home, so I'm leaning toward transferring/selling the current property to them.

@Daniel Johnson Hi Daniel, I just moved from Ontario to Nova Scotia and transferred my real estate license to NS, my wife and I are investing in Nova Scotia, and would love to help you out with your short term waterfront rental project, you can message me anytime. 

I found a seller who is motivated to sell his property at a pretty steep discount.My plan is to put the property in escrow on an executory contract/land contract with the condition that the title will transfer once the seller receives his funds.

This is another reason why I see 1M posts on hear about people wanting to transfer properties to their LLC because some guru they paid $5k told them too.

I have a contact at a military contractor that has employees transfer in for a 3-5 year gig.

Upon her passing, the 401k interest was transferred to me into an inherited IRA account at the same servicer.

The happiest day of my investing career was when I transferred ownership to all those houses in one transaction and to never ever go there again with that asset class.But thats me.. section 8 can work but its not as passive as folks claim.

You may need to seek legal counsel on this.2) Get all the info about your rental property as possible: leases, rent ledgers, tenant contact info, etc.3) Start looking for a new PMC4) Execute your termination notice5) Once transfer is complete, circle back to decide if worth suing them.

Could you gift the down payment to your mother in law so she can buy it and then transfer title to you when your house is done?

I would still work with a title company on this and let your lender know (if you have one) of the name change and what you are doing so they do not think you are selling the property.Another option would be to create a living trust for estate purposes and transfer it into the estate.