That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

The county discovered I was renting out my home and property taxes more than doubled (lost homeowner and two other exemptions).  

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

Also Solo 401k is exempt from that tax if you qualify instead of using SDIRA.  

After their $500K exemption, they still owed $6M.

This exemption can be used every two years.A great wealth-building strategy is to House Hack every two years, live in each house for at least two years, and then sell older House Hacks before the 5-year mark.

This would lower your down payment requirements, lower your interest rate, lower your property taxes, and MAY make you exempt from state income tax.

You're feeding 2 dogs with one biscuit by taking care of your living expenses and generating rental income at the same time, and by living in the house and keeping it to 4, you generally get exemptions on things that might bother you to live with (IE you can choose whomever you want as your tenants without running afoul of fair housing laws).

The one thing to look out for is that you probably get a homeowner's exemption (called a homestead exemption in some states) so your property taxes are probably reasonable.

You will likely be losing the right to a homestead exemption, so let your local municipality know.