I’m extremely allergic so that makes me more cautious but cats stink up the house far more than dogs.  

But, be cautious and evaluate the risks involved.

I would be cautious to ensure they will ALL be moving in...you do not want to end up with them just helping to get Mom into a place alone.

If you feel you are RE heavy, I agree that the property could be sold to pay off your primary, but you could also invest in property in another nation (If Yuen becomes the world reserve currency, a move could be in order), or in the market for strict diversification.Either way, I'd be cautious about buying too heavily into theories regarding debt ceilings, currency dominance and geopolitics in general.

If it works for a MTR, and that's what you want, then I would still be cautious, as @Dan Guenther said, the HOA can change the rules whenever they want.

@Stephen Rodrigues I can certainly understand wanting to invest out of state when you have high prices and high property taxes in Massachusetts, but I would be cautious about investing in an area that has a flat or even declining population, it might look like you are going to get some cash flow right out of the gate in year 1, but you will never get the big win of appreciation which is much greater than cash flow when it happens and if you never get the appreciation you won't get rent price gains, so your cash flow won't appreciate as much either. 

I'm risk averse and have been cautious. 

But I will admit I was very cautious when getting started.

If so what are common rates and what are common pit falls to be cautious. 

@Suraj Nagrani You need to be exceedingly cautious and aware that McAllen is directly across the border from Matamoros, Mexico.