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).

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

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

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! 

In order to avoid the FIRPTA withholding you must either1.

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.