If you are single or married without kids and an understanding spouse.

A concern, however, if we do a sale, is with the price, as I understand that if I sell at too low a price (say, $200K, give or take a few thousand to pay off my current mortgage), the IRS could assess a tax on my parents if the price is more than 25% below market value. 

I'm getting to a point where I might want to pursue a lender for future investments but am trying to understand how these lenders choose people to work with. 

A couple of follow-ups so I can better understand.

Three years is the standard PPP, but 0-5 year options are usually available.

Plus, living in the property gives you the unique advantage of understanding it inside and out.. making you a better landlord when you eventually rent out all the units.If I were you, I’d prioritize properties with room for rent increases or small upgrades that could boost value.

Lower your price, but don't lower your standards.

When we did it, we did score some great deals, but what we found was that we were visiting so many properties to understand our "strike price" (the maximimum we would pay for the property when taking into account rehab costs, hold times, interest on any debt, closing costs, real estate commissions, a contingency reserve for "unexpecteds", etc) that the math started to not make as much sense.

I understand this is my responsibility and I filed an insurance claim and the garage is currently being rebuilt as the entire thing was destroyed.

I understand this is part of the learning curve, and once I can have the PM "release" me, I might consider it and save 3k/yr!