@Jaz PatelIf you want lower risk then I suggest either performing notes or being a hard money lender. 

If you're parents are going go receive any money from that then they will have to take depreciation then on that property and it will appear on their schedule E as well (upon sale they have to recapture any depreciation they took or could have taken so watch out for that).If you go further the route @Corby Goade suggests with a deeding you'll want your accountant to advise on gift tax consequences or use of the one time limitation. 

When creating any list with a list provider, I very strongly suggest calling them directly and speaking with someone.

I would suggest to find a local meet up in your area to find locals who are actively doing what you'd like to do, listen to the Bigger Pockets' podcasts if you are not already and to figure out what your preferences are (location, size/type of property, price range, desired ROI or cashflow, etc) so that you can start analyzing deals.

I personally wouldn't suggest buying in the DFW area though if you are looking to do STR's.

Any suggestions would be appreciated.

Any suggestions would be greatly appreciated! 

If you have any suggestions I’m open to them.

If you are a new investor and have no relationship with this person, I'd suggest you sit down with them face to face before any money changes hands, especially via wire.

From everything I've read, this should be covered by a landlord insurance policy that covers damage done by tenants (specifically, this tends to be categorized as Vandalism because the tenant is knowingly doing damage to your property).Here are some photos of the aftermathtldr; A tenant smoking meth cost my colleague over $25,000.The key takeaways here I believe are: 1) get a good insurance policy, being stingy might cost you years worth of profit, 2) screen your tenants well and inspect frequently (especially for lower class properties), and 3) be prepared for unexpected costs, this might be a rarer case but **** happens.Also I'm not a lawyer or insurance expert so you should consult professionals with regards to your state laws and local insurance policies to figure out how to cover yourself from a situation like this.I'm interested to hear if any of you have had to deal with something similar and also any suggestions you might have.