I am currently in the process of obtaining my real estate license in Tulsa, OK.

If the property can be obtained and renovations completed with 1 million.

So from strictly scavenging information from here and YouTube I was able to obtain a property on contract (owner finance) and have finally come to the point where I have to make decisions about what to do with the property next.

They do allow some assets to be left for your mom's use.If obtaining Medicare funding for your dad's nursing home care is of concern, you should look for an 'elder care' estate planning person who can help set your parent's finances up to best meet their needs. 

@K T. yes!

Is it worth hiring a lawyer to cross your t's and dot your i's?

Congrats @Peter T.!

Happy to help out.Cheers,T :)

Then I ask them what their plans are for the property.I'm a sales based guy (work at AT&T) so I have some experience there.

The house I'm living is around $350-400k and that does not match the 2% rule, not even the 1%. ( property taxes here are $8500-9000 annual + HOA of $800.)If I buy a cheap house for $300K ( real cost $350-370, since there are some houses in good shape that have been listed for 200-300 days and the prices keep going down) I can be break even in 4 years ( math from rent vs buy calculator)Will that be a good deal even if that don;t follow the 1% rule since I paid 4 years of mortgage instead of throwing money on a rent?