If you have a rich parent/rich spouse who's willing to sponsor your mistakes, a very high paying job that can sponsor your mistakes, or won the lottery and can afford mistakes, then you don't have to do the last step and keep doing what you think it's the right thing to do. 

Growing up in a household with 6 siblings and parents working hard to survive living in California I became very observant of what others were doing to make money.

Hi everyone, I’m interested in purchasing my parent’s next door neighbor’s house.

In which case they would need to live with their parents until they have that money available to buy the house.Good Luck! 

Some programs allow that money to be a gift from a parent, others require that money to have "seasoning" in a bank account of 6 months or longer.That would make the monthly payment $1,936 then you add PMI $100 +/--).

Parenting 101. 

Since I was a little kid my parents have been flipping houses on the side and some of my earliest memories consist of sitting on the floor of some random house while my parents painted the walls.

Add: For the following year, we pivoted to MTR and LTR strategy since we found a good situation where our neighbors parents from out of state needed a place to stay close to them and the grandkids and has been staying at our place since 2023. 

If your parents have a long-term mortgage on it already when offer to manage the property while they're in the Floridas for a split of profit?

Right now if my kids inherit my rental property it will be reassessed to market value and their property tax will skyrocket - it takes a while, maybe a year or so after the death of the parent for all that paperwork to go through the county assessor's office.