I've never heard the 25% thing before, but any difference between FMV and sales price would technically be considered a "gift" with potential tax implications for your parents.You can avoid most seller costs as there's no reason to use agents in this case.As an FYI: I always recommend avoiding a FHA loan, if you qualify for a low-down payment conventional loan.

This is very different than other markets where the majority of homes were built after 1960.So, I suggest first learning your market.

What will you do differently to achieve that goal?

A Hotel is totally different, as is a RV park or camp resort.

Everyone has different opinions on this and it really comes down to personal preference.

As a result there were tenants who settled for 2 BR units and were dissatisfied or alternatively sought rentals in different neighborhoods.  

Is there a difference between Freddie Mac and Fannie Mae homes?

Small improvements there make a big difference!

It should also be noted that there is often a difference between the borrower and the guarantor.If the loan is made to an entity (LLC, corporation, trust, etc.)

I have researched the different kinds of loans for this but I would love to speak with any lenders or other investors in this area.