I recommend LLC, because its far easier to dissolve the partnership than having to retitle the real estate if one wants to buy the other out etc.  

LA has incredible food, incredible locales and is an excellent lesson in getting ahead of the rat race.

At the end of the day if it is easier for your Tax CPA it will be easier for you. 

The people who never ran properties in B or C area always scream about how bad idea it is but you can make an incredibly profitable listing in those if you know how to manage it.

It’s a great way to start building equity while offsetting living costs, and programs like FHA loans can make it easier to get in with a lower down payment.Since your parents are open to diversifying into real estate, that could be a big advantage, especially with the equity they have tied up in their property.

It's even easier.

If it does go to probate, hopefully your brothers and you can amicably go the informal route vs formal (I've worked with families in both when buying properties out of probate and informal is FAR easier).Since there's no debt on the house, maybe you could sell with financing or maybe you could even buy out your brothers with financing -- that way you maintain ownership and just pay them a monthly amount.

It is the most popular software in the industry, and most Tax Preparers are familiar with it, which makes tax season easier.

I have to choose between a much cheaper market that I live in that is much easier to cash flow, but finding good renters could be more difficult.

Wow, your background and vision are incredible.