To provide some context, I work in my family's business, but my parents are getting older and are formulating an exit strategy that will have them out of the business within the next 5 years.

I’m putting together a deal to buy a multi-family rental property from my parents in Buffalo, NY.

My parents who invest, say they never do deals with more than 15 year amortization.

A short back story is a long term friend and co worker and I have been talking for a year about getting in to rentals (his parents own 12).

I am currently living in a house in my college town my parents own (My older brother went to the same school, but is now graduated).

Can I do that or do I need everything under the parent LLC?

Put all my eggs in the real estate basket.Then cost of living increased and my parents needed help financially. 

So perhaps in partnership with your parents, you buy a 4-5 bedroom house. 

We are living in the GREATEST housing 4 profit enviroment EVER in our life times, our parents, grandparents EVER! 

I decided at the beginning I only wanted to rent to people who were gainfully employed (or students that had gainfully employed parents), had no criminal record, decent credit scores, no charge offs or bankruptcies, steady & stable job history, and the like.