Depending on how soon you plan to buy that next property would dictate how I allocated those additional assets.Have you made your max 401K or IRA contribution for the year?

The way the SEC has implemented this legislative mandate means that there will now be two different types of offering under Regulation D’s Rule 506: • Traditional Rule 506(b) offerings, which cannot use general solicitation, but in which up to 35 non-­‐accredited investors can participate so long as they are provided with extensive information about the issuer of the securities, usually in the form of a private placement memorandum or PPM; and • New Rule 506(c) offerings, which can use general solicitation, but must be sold to accredited investors only, in which the market will let investors dictate the type of information that they need in order to make informed investment decisions.

Circumstances dictate we not put much if any money into the rented house.

Account Closed  free market may dictate this..

Whether your analysis is accurate remains to be seen as the market dictates the true value.

Your DTI will dictate when you will need to start transitioning to a portfolio manager.  

By having the parents act as the "bank", they should be shielded from liability and could foreclose on the property if the situation dictates. 

Answers to those first two questions may dictate which area of real estate that you choose to start with.

I've come to terms with the fact that my situation dictates I run a few flips to build starting capital using hard money. 

Account Closed Do not let others' opinions dictate when you start investing.