Often nicknamed a "Kiddy Condo Loan", it's a great way for parents to get a property for their kids as a primary residence.Regarding the debt-to-income ratio, that is a genuine concern and something you would need to consider. 

The month of June my parents stayed in the property from out of state (the whole reason we bought it)  July was $2200 (only 3 weeks mom and were here first week of July).  

My parents have a fully paid off property they have turned into investment for quite some time.

Thanks Ned, Short answer to explain it, I did not know they were around back then, just found out now when we are coming back, a little background, when I started in 2005, I was a child :) 28 years old and thought I knew it all, all, all :), did not know about hard money lending, only new about bank loans, and Home equity lines of credit, did not know where to find more money, since I did not have much, I would rely on what I could get from banks, loans, credit cards and was not always that great, it was a learning experience.....and Wholesalers, I did not know that even existed, everything I would find back then was already on the market and through a "friend" agent, MLS, FMLS and all those, nothing like what we have today.

There are 4 kids living next door and he lives with a child. 

Or, if they sue both the LLC the property is held in, and the parent LLC, would it open up exposure to other LLC's owned by the parent LLC (i.e. other property holding LLC that I have?).

I feel at this point trapped by the Analysis Paralysis syndrome, as well as time and energy starvation due to a full time job and role as a single parent.  

We require any tenant 18 or older to qualify for whole rent on their own unless they are a legal dependent (spouse, college student, dependent parent, etc) of applicant, even then must pass criminal background check.

I do have a possible opportunity to buy a home that was left to a friend if mine & its full of stuff left befind if his parents.

Some people come every year near same time whether snowbirds, for parent/child birthday, or simply because they have a favorite time to book.