This type of LLC compartamentalizes every asset held under the same (parent) LLC, so each asset is not exposed in case of litigation.

Looks like your parents needs to manage this one, since they are they owners of the lease or whatever.   

And yet, my parents keep asking me when will he get a "real job" again? 

When I was in college, my parents got a condo close to the campus where I was renting out one of the rooms.I got my real estate broker and mortgage license back in 2012 and have been doing real estate both full time and part time.

What happened now is that my parents got into more debt with a new car loan and credit cards, so now they are requiring me to pay more.  

Both the house and duplex I co own with my parents and are 100% paid off.

So my wife an I are looking for a house, we both grew up in the same town, and her parents still live there.

I imagine the title company will have an interesting time determining who those heirs are under the laws of some foreign nation.On top of that you'll need to be sure that FIRPTA is dealt with properly... withholding is the responsibility of the buyer.Good luck.

I have told my parents many times to live it up and spend their money, and I genuinely hope they do since they have worked so damn hard for it!

I have told my parents many times to live it up and spend their money, and I genuinely hope they do since they have worked so damn hard for it!