Yep, or simply transfer title back to your parents.

@Jacob Tracy I would be weary of the deal simply because it is not common to come across that large of a property for a 9 cap in this market.

He told me that if i want my 7% return, i can simply rise the rent of the currently renter, that will remain with a 3 year contract in the property.

YUP  exactly anyone who thinks low value  assets are passive simply does not know what they don't know or are in denial or will get an education real quick. 

However, I can make contributions via a back-door rollover simply by contributing to my pre-tax IRA account and partially rolling those funds into the 401(k) account. . 

The HOA had tried unsuccessfully to get insurance to pay for repairs, but insurance has denied the claim.So my question is whether or not this is something that should have been disclosed legally, or whether it is simply a case of "buyer beware" and now it's my problem to deal with $$$$$$$$$$.Anyone have insight? 

A lot of those listings are already closed but the brokers leave them up so people will call them and they can build their buyers database from it.You can also simply network by talking to local investors.

If you need any help in looking at properties or simply would like to discuss the area, feel free to reach out!

Come Home Zone seem to simply be a new iteration of the same organization.

If you don't want to deal with lockout simply replace the door knob with a latch that doesn't have a lock (just a doorknob) and keep the deadbolt the only lock with a key on the door.