I have some more reading to do but if I understand correctly I will assume title under the Ladybird Deed and can just continuing paying the mortgage from my parents current mortgage yet not actually "assume the mortgage" and not have it impact my eligibility for a future FHA financing.I may have awkwardly described what may be the strategy. 

I've been reading up a bit, consulting with civil engineers, and contacting the City of San Diego on SB9 but I am by no means a professional.  

Quote from @Steve Wright: Not sure what you mean by claiming what I didn't pay, I paid to improve the property before it was rented.Yes, it seems strange to me if someone purchases a home, improves it, then rents it, that they can't claim the value of the improved property for depreciation, as they paid to improve it.Steve, just like on another thread where you were asking about renting to your family, you are not sharing full information and then are getting upset that we are somehow not reading your mind.

Thanks everyone for reading this far!

As I read through this thread this is the exact thought that went through my head.  

Thanks, looking forward to reading them.If it helps, I am looking for Class A or Class B properties as I don't necessarily need the cashflow right now and am okay waiting 3+ years.

Only this time, my work consists of reading books and educating myself in the world of real estate.

Thanks for the feedback 

Your feedback is welcome; it's essential to making this project successful.Thank you for engaging in this discussion.

I've read a few things online and I think it sounds legal/doable.