Buy a house using your parents' money, then manage it for them while living there.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

I have much to say about this topic, but here are some key points.- The support is great.

I know, why do you think I talk to you like a local lol.I used to swim in steven creek reservoir!

So, now that they have everything, they are stating they can't use my appraisal.

Chicago has such a great investing community compared to most places in the US I have visited!

@Nathan Gesner have you used SureVestor?

However, there are some investors here who are having a lot of success finding cash-flowing deals through off-market sources. 

Assume an FHA loan to non-occupy and use for rental real estate.... 

Sorry to jump on the back of this original post but I have a follow-up question to this response.