Thank you so much for your time and for saving me...I'll try to get a realtor and see how this one goes.

The number of private landlords sued for more than their insurance will cover is astronomically low.The best protection: follow the law, and treat your tenants honestly.

The key is stack the savings. 

I am inclined to this option as it would allow me to return home to assist my parents and save money while pursuing my law degree.- Does anyone think this is a sound idea?

They helped determine what modifications were essential for compliance and worked to maximize savings in the project.

I am a few years away from buying my first house, and am wondering where to save up for that.

A minimum of 10-15% down is required though Thanks, sent a private note to learn more.   

Regular inspections can catch any issues early, potentially saving you from costly repairs.

However, depending on your loan type, if you put less than 20% down, you may have PMI (private mortgage insurance) which will make your monthly payment higher by up to a couple hundred dollars.

Maybe they could do some sort of private reverse mortgage?