I would be happy to connect and share knowledge.  

Though applicant 1 shared 2 year old lease ( ended 2021) which has applicant 2 name( shows in credit report too) but it does not show on applicant 2 credit report.

Later, you could refinance, pay off the sister’s share, and potentially renovate further to add value.The big questions seem to be how to handle the mortgage so the parents aren’t stuck paying rent and whether setting up a trust or another legal structure makes sense for passing ownership smoothly.

Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.

RBTR is his primary strategy in DFW and can probably share a few tips/recommendations with you. 

I'm still in the process of finding an alternative solution but I thought I'd leave this here as a warning for others looking to make a decision.For reference, I'll just post their email response to me here:As we review your inquiry, we would like to remind you of the following key points from our Terms of Use:In no instance shall ShinePay be liable for any of the following:"Lost revenue from service interruptions.Lost revenue stemming from delays, malfunctions of any product.unauthorized gains access to your account or due to shared passwords or if your password is hacked.Destruction to properly, places, or personal injury resulting from the installation, misinstalling, or misuse of any product.Lost revenue from entering the wrong account number for ACH or other bank transfer or money transfers or due to any delay in receiving funds.Damage to your structure, machines or car resulting from use or installation of our products.Any funds collected that are paid to a person that does not own the property.Any harm from defeating the lock and technology that controls the lock to a device.Failure to properly service any product or machine."

A solid attorney should be able to share valuable insights and answer your questions. 

Then you can buy a few books if you want but most of the information is here.There are thousands of people here who have shared libraries worth of information for free.You can get a phd in real estate right here if you read all the forums.

I would be happy to share if you think it would help once you get to the step of marketing for your first tenant. 

There is a certain shared happiness in the success of an investment and watching it grow, if done the right way.I have met someone recently who operates a private charity and gives back to the poor and downtrodden.