Interesting that this seems to cover all property zoned residential, with no apparent carve out for a transaction of residential property between two investors.  

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate which is around 7% in today’s market).If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

I'm currently building multiple new construction projects in Lee & Collier Counties, both commercial and residential.

Hey @Eric Andersen, so there are a lot of regs in the DFW area.https://www.fortworthtexas.gov/short-term-rentalsRentals are not allowed in residential districts: A-#, AR, B, R1, R2, CR, C, D, UR.Dallas recently banned STRs in single family homes but there was an injunction that blocked it.

I'm not a lawyer, but I've consumed about 1000 hours about Wholesaling both commercial & residential, and none of what they do requires a license.

For example, my client just closed a 3/2 single family house for $160k that was already rented at $1900/month and near turnkey and in a super desirable residential area.

I would talk to a number of residential, private, and commercial lenders.

I am a self employed residential general contractor.

Maryland is one of only a handful of states that does not require Property Managers to have a license from the Real Estate Commission, although it is optional.Also, selfish plug, I am fully licensed and run Blue Door Residential Property Management and am happy to speak with you.

As far as advising your parents to leverage the equity in the properties to acquire more deals, I would leave that to a professional familiar with the local market conditions and residential investment experience.