UPDATE: Jay hooked me up with Safeguard Capital Partners, they offered to refinance both of my properties at 9% (interest only) on a 5 year balloon payment.

I do a lot of these and you definitely need to put in some safeguards.

The other things I can think of is to JV with someone on a flip project, but it has it's own risk, you will need to educate yourself to know enough about how to fix and flip in order to safeguard your investment. 

For example secured investment corp or Safeguard capital partners. 

The reason is more in keeping the property owner occupied, since maintenance and upkeep is generally taken care of by owners, safeguarding the property as opposed to a tenant who has little interest in the property.

It's amazing how clunky the banking system can be, when they supposedly have so many safeguards.

Additionally in my eyes it's quite hard to safeguard the drop box system from thieves.

I utilized Brian Eastman of Safeguard Advisors to assist me with the setup.

If they (they young couple, not the parents) come back with a very strong interest, I may entertain some of the safeguards mentioned above making the parents responsible (e.g., have both sets of parents screened and co-sign etc) rather than face a long term vacancy.

I implemented special safeguards in my screening to eliminate any applicant I deem a risk.