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.

Consider partnering with your parents to co-sign a mortgage or exploring creative financing options like FHA loans or private money lenders.

Let the master be for the adults/parents.

Two weeks before we were notified about cutting off distributions he gave us a pitch to donate to his Hawaii relief fund.

I saw my parents die in my 20s.

If you ask your banker, your older parents or grandparents, realtor, financial manager etc. they will all say "of course buy your primary".

In one case, the client lived in a small house on his parent's land rent free.

I would be curious to see how your numbers would look if you got a 3/2 and househacked (roommates) or continued to live with your parents while you turned that place into a MTR. 

In addition, I live with my parents so even househacking will still cost me over $400 a month, which is what I pay to stay with my parents.

In addition, I live with my parents so even househacking will still cost me over $400 a month, which is what I pay to stay with my parents.