In response, I had a plumber and a water restoration company come to assess the situation.The restoration company cut into the drywall, and the plumber thoroughly inspected all the pipes, performed a leak test, and conducted a pressure test.

Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: Best way to get that is by working with a real estate tax expert.

The Assessor's Office is doing an assessment on it to determine the new assessed value.

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 create a comp set to dive into the competition and analyze how many other MTR homes there are, what cleaning fees are being assessed, booking lead time, # bedrooms and competition and if EV charge, Pet policy and Pools make a difference.JURNY for a PMS system & channel manager.

You will generally want to make sure you are compatible and have similar visions, clear responsibilities of what each partner will be doing, and can openly communicate with this person.At a high level, though, what does "finding a partner" mean to you?  

To avoid problems, it’s best to add these locks after the appraisal on a turnkey purchase or after the refinance is complete.Also, most DSCR lenders will assess the property’s market rent as a single unit rather than the combined rents of individual rooms.

I appreciate your honest assessment and perspective.

Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: Best way to get that is by working with a real estate tax expert.

Certainly there's risk that needs to be assessed but thanks for sharing!