That said, finding our own deals and using cheaper money is a big short term objective to make our deals more profitable, which means finding portfolio lenders and private money.

. :-) You know how expensive a loaf of bread costs at organic and yuppy friendly Whole Foods. :-) I would suggest you look at Redfin listings of these area codes and then drive around on the weekend (starting with the immediate area around USC).

I'm one of those people who has to plan and organize everything to a fault. 

I don't object to owning in my personal name but this is a partnership and it's best I think to have a more formal structure.The conventional wisdom is to flip in a S-Corp and hold in a LLC, but it's a pain to have two entities, especially in CA.It's not talked about much but I'm thinking of a LP (Limited Partnership).  

Since then CPSC, EPA and several major builder's organizations have all agreed that those measures are excessive and often unnecessary.

Given that a default on the loan and the ensuing 'police work' to collect collateral or repayment would be complaint driven and the parents would obviously not object or complain I doubt that anything would ever be a problem or be scrutinized.

I have no experience with them, however I am very suspicious of any similar type organization because I know how slim tax lien margins can be a a large scale.

This is what I have in my lease agreement:"Tenant will be prepared for quarterly house inspections which will occur at three month intervals, and for such inspections Tenant shall have house in good clean condition, organized in such a manner that Landlord may inspect all important aspects of house, in order to maintain the health, safety, and welfare, of Tenant, and property.

There should be a local organization for tenant complaints.

I work hard, I organize my work flow to move as efficiently as possible, I estimate repair times and price, and throw the less technical tasks to my apprentice.