Use the current month as an indicator of occupancy rate.

I was hoping to purchase a couple of properties from my parents with the ultimate goal of minimizing tax burden for them. 

This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing.

I just think it's harder for some people to save up plus I want to minimize surprises such as tenant racking up huge bills or suspect water usage (We are in closing now where seller just found out tenant hasn't been paying water bill and it's $1300 and tenant SD is only $800).

And btw, the mere fact they so eagerly accepted your offer, indicates there's some sense of urgency.

With the appreciation, tax benefits, offset mortgage, etc. the upfront costs in undertaking a good sized project are minimal compared to what is possible 5,10,15 years down the line...Just something to keep in mind

The ones I've seen are indicating that many of the crowdfunding sites are not doing very well or have completely sunk.

So they'll be closing fees, but should be minimal. 

The idea is to get the money back into cash reserves as quickly as possible to minimize risk.Truth be told, I know the number I should have in an emergency fund.

Expect only minimal cash flow but as a physician can cover and once paid in total will generate 12-15k a year profit including property manager fees.