I grew up in Traverse City and help my parents manage their portfolio of STR in that area.

I'm just over the hill in Reno, NV (moved from Marin County) and a lot of parents in the area do the same thing w/ student rentals near UNR.

I rented to my parents for 15+ years and when they past I rehabbed the house and sold it for $120k profit.

Quartz won’t get you a 5 star review or boost your ADR per se, but having a place parents can let their kids play may.

-the tenant is a friend of mine, and I believe his car and address for employment and bills is still listed at his parents' house a few cities over. 

If I created a child series to hold an investment property (not collects rents though, just hold), is the corporate veil already pierced since the Parent LLC collected income for my consulting business?

I've been living with my parents and I am planning on getting an FHA Loan to purchase my first home.

Are they being evicted or is it a young couple who moved to the area and had been living with their parents until they found a place?

For example, if a parent co-signs for a child but the child  graduates, gets a job and starts paying the loan that debt can be excluded from the parents DTI as long as there is proof and the payments from the child have been on time. 

You will be well served to learn about the withholdings that will take place if you ever wish to sell or exchange the real estate you buy here.