I don't know how much research you have done, but if you haven't I would look at the inventory of all of them.

@Brad De VriesSome considerations:1) If you are planning to use a conventional lender, your parents would have to "gift" the down payment to you as you cannot borrow the down payment (it's your "skin-in-the-game").2) Capital Gains tax is a federal mechanism.  

Move ever year and do it again. 10 years 40 doors. 5% conventional or 3.5% FHA loans.

Live in one of the units, collect rent, rehab, upgrade, rent for higher amounts, refi into conventional to get out of PMI.

The property under contract:  I found a 3/1 930sqft pre-foreclosure bungalow off MLS listed at $185k, I am using conventional financing but was able to beat out a cash buyer by asking the wholesaler what profits they were expecting to make and cutting them a $10k check and entering into a contract with the homeowner directly at $175k.

As the market begins to soften up, interest rates rise and new inventory comes online CAP Rates will start rising again.

So, I was also told not to purchase a property using my LLC as my wife and I have enough financial history to qualify for a conventional loan or a refinance and the LLC won't (I assume this mostly applies to buy and holds and refinancing as with flipping we will not be looking to refinance or go conventional).Most of the advice I have gotten about how to have our LLC taxed is to simply have it taxed as an LLC and file our taxes together.

(The OKC market is great for buy and hold, but not enough distressed inventory to BRRRR easily.)If it were me I would invest in solid B areas or better with good schools.

I may go the route of having an unrelated party make the purchase via hard money, and purchase it from them a few months down the line, via a conventional 1031. 

However, based on the fact that their kids are in a school where they are happy, the low inventory of houses in our area, and the fact that many landlords don't allow pets, leads me to think they will be long-term tenants, which is what I'm looking for.