Depending on if you qualify for the special allowance for active RE, you may be able to take up to $25k in losses (unless you are full time in real estate and may be able to use real estate professional status). 

Their offering Turnkey section 8 rentals that they've purchased, rehabed, qualify for Section 8, get it leased, and then manage it for you.

I've never heard the 25% thing before, but any difference between FMV and sales price would technically be considered a "gift" with potential tax implications for your parents.You can avoid most seller costs as there's no reason to use agents in this case.As an FYI: I always recommend avoiding a FHA loan, if you qualify for a low-down payment conventional loan.

@Mary Lopez I recommend most investors skip multifamily properties that don't qualify for agency (Fannie/Freddie) or HUD financing. 

@Julian Martinez The good thing about your position is that if you decided to sell the property you can qualify for the 121 exclusion, and qualify for a 1031 exchange.

All Contractors are subject to the lender’s determination that the contractors are qualified and experienced, have all appropriate credentials required by the state, are financially able to perform the duties necessary to complete the renovation work in a timely manner, and agree to indemnify the borrower for all property losses or damages caused by its employees or subcontractors.Multiple Specialized Contractors:Ø Since this is a limited repair/renovation program, no General Contractor is required.

If its a log cabin it might have trouble qualifying for the refi - would be smart to get some opinions early if that is your gameplan - would likely be a bigger potential hurdle than the gift/original purchase process

Are these loans that I could get pre-qualified for?

Does anybody know if a bank will qualify a sponsor that has the net worth but does not have a schedule of real estate? 

For almost any kind of permanent rental/investment property financing (whether Conventional, DSCR, or local bank), you are going to need a decent credit score to qualify.