Even 600k loan at 10% interest costs $165 a day.

With one small exception on VA loans, there is no getting around the due on sale clause. 

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

Like I mentioned to Eliott, I'm very young and I can't get a loan.

To fund your next deal, explore conventional loans (15-25% down), FHA loans (3.5% down for house hacking), DSCR loans (based on rental income), or HELOC/cash-out refinance if you have equity.

Also, with a VA assumable, if the one assuming the loan is not a veteran, then the seller (veteran) entitlement will still be tied up in that property.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

Doing so will seperate your investments from your personal assets and protect you from liability. also, one thing you may not know is that you cannot get a conventional loan with an LLC.

@Chinku Chinku how is paying the loan balance down going to help you reach your goals?

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.