Does anyone see any legal or accounting issues with this plan?  

Side Note: Up front capital from my side is not an issue for down payments, and leaning towards the fix and flip strategy to build some cash and roll into a 1031 to ultimately get into the multi family space.  

You need to drop the issue with your parents before you damage that relationship.

I looked at tampa but it's more of a suburban market. miami has over 21 zip codes you can go up to 8 stories in because of the affordable housing issues and it is the only city in Texas and florida in the top 10 most affordable housing needs ranked by city. it's not even close. 

None of this is true in todays market though, you pay more per month to buy than rent anywhere in our area & frankly the country at this point, so it takes time for both having bought to be worth it and to move out and make cash flow, there are very few if any properties that are “value add anymore” I’d know because I look At 17 counties daily for deals & if there’s one I’d have bought one, heloc’s are bad debt ar this point, usually double digit debt, again all of these issues are solved with those but if your gonna live somewhere for a year or two he would probably rent and no amount of realtor ******** changes that, this market is different than a low interest rate environment and people owe thier clients at least to properly explain that to them.

Hey @Lonnie Perez, if you're considering between other states I would check out Cleveland, OH.A ton of fix and flips and STR/MTR opportunities near the major hospitals and clinics.

Hey @Eian Trenkle, I'm actually dealing with the same issue on a STR of my own.

Seems like your biggest issue is rent - what is market rent and what prevents you from achieving that rent?

But if someone needs money to deal with an immediate, major problem, then you're providing, if nothing else, an additional option that they can choose or refuse.

It's a safety issue.