The thinking is, I really don’t have a desire to own the property, but rather maximize the cash flow the property can make and then sell in either 5 years or match closer to the terms of the IO loan (depending on market conditions, etc.)Having more cash flow would enable us to improve the property conditions, thus rents etc, repositioning the properties performance for the future sale.

On one side, you may save yourself a few headaches and some money on nice upgrades, but on the other side, you may be enabling your tenant to use those things against you in the future regarding rent.

It's a very landlord friendly state that enables eviction proceedings to be done very quickly, assuming you have followed the law and all associated notification requirements properly.  

State consumer protection act statutes and traditional common law causes of action, including fraud, negligence, unjust enrichment, intentional infliction of emotional distress, and unconscionability, also may enable consumers to prevail in claims against predatory lenders.Not coincidentally, the prevalence of predatory lending practices and the subsequent increase in foreclosure rates has contributed to an increase in foreclosure rescue scams.

This method enables you to take advantage of the current price and start capturing appreciation and rent growth.There is no effective way to time the market in real estate (and maybe not with stocks).

I am planning on installing a Wifi-enabled lock to the condo unit for entry, but I don't want people entering the property without someone being there.

You are not helping them at this point, you are enabling them to continue this behavior.

I hear what you're saying about banks not giving me a loan if I have zero of my own $$ in the deal...maybe I would need to add the investor as a co-buyer which would enable me to use his $100k as a dp.

Then my wife and I would obtain a cash-out refi, to pay my parents  (I also like this because it would enable my wife to continue to have a tax deduction our yearly tax filings).  

But I feel committed to doing this and enabling my future using this path.