Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

But actively involved in from 2016-Present. 

I recommend compiling an analysis/presentation stating that your parents will save an "x" amount by working with you instead of "ABC" local property managers.

I did not read the entire code so I cannot comment and that part but if its code required, you do not have much of an option unfortunately. 

I ran some very basic numbers on option 1 and if you can get a ST/MT rental per your comments and other assumptions you list, this could be a deal for you.

It is just ridiculous how old hosts keep questioning about what my proof is when you present 0 proof for yourself.

@Bret Hudson: I've been a heavy user of both websites you mention and I find your comment interesting.

However, transferring a mortgaged property to an LLC could trigger a due-on-sale clause, so consult your lender before doing so.While an LLC does not save taxes, it can make audits more straightforward and help present your rental as a business and you can combine all the hours from multiple STRS into one to meet the MP requirements.

He then laid tile so badly that everyone who walked into the house couldn’t help commenting on it.

But as the previous comments have stated, this is nearly impossible in the greater LA area, and almost impossible to cash flow anyways.