Buy some Microsoft stock then go to go to Redmond WA and try doing some landscaping and paint the front door and see if you stock goes up.

Some may only want post 1978 to avoid lead paint issues.

I would guess you would be slightly low at a $1000/yr, especially when you need to flip the house between tenants or preparing for sale as you'll probably need to replace carpets/flooring, paint, etc. among other things.

Better to own something where you don't have big brother saying "you need to paint" or "we decided to put on a new roof, please send us a check for $5000 by the end of the week."

I imagine there will be a considerable amount of cleaning and painting that needs to be done to get the place up and running again.Mark - we should definitely meet up for coffee sometime.

Wanda, I ended up choosing wholesaling as a beginning strategy.

Seemingly, choosing one's market helps to determine the mission statement.

We have cleaned, primed, and painted the walls, cabinets etc.

Knowing these numbers: as is price, fixed up price, and costs of the fix up (including the costs of the mortgage to pay for it) and its just a matter of choosing the option that produces the higher net amount.Then your parents can take that cash and buy something that fits their needs.On the scale of options, here's how I see it.Helping your parents out to get a place that meets their needs: goodCombining households: maybe OK, not an option I'd choose, but might work for you.Combining finances: not OK.

I appreciate your advice and that of J Scott in regards to it not passing the smell test.As far as compensation vs. pass-through, I'm choosing to be very conservative at this stage, given the amount and type of work that I'll be doing.