It's been burning a few people lately, and that's why I definitely dont recommend it. 

As Hai mentioned in BC there are a couple of extra things to factor in if your parents sell it to you-the capital gains, foreign buyer's tax AND the property transfer tax all apply in BC and the middle one is not cheap (an extra 15%). 

If you burn a seller, there's a 50% higher chance either he owns something else you're offering on or he knows the seller or his attorney knows the other attorney, broker knows about your past deal, etc.

Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

Quote from @John Underwood: Are you sure it's not $600 extra per year?

Be prepared to provide extra documentation, as the lender will need clear collateral and legal rights in case of default.

Adding extra income streams, like charging for utilities or offering laundry services, can also help improve cash flow.

I started my Career in Lake County Ca. and half that county burned down over the last 10 years.. probably 2k homes got destroyed so not as epic as say the fires in Napa and Sonoma. 

While it might feel like an extra charge to tenants, these packages often provide value that indirectly benefits the property owner as well—like reduced maintenance calls or ensuring the property is better protected.In my experience managing a large portfolio of properties, these fees are becoming more common due to the thin margins in property management.