Obviously this number changes based on each person's life circumstances, whether they have other commitments to attend to, Etc.For most people property management is a luxury, not a necessity.

Seek out the local legal aid society for a thorough review of your facts and to determine whether you are liable based on prior dealings, and what rights your parents have by virtue of the unique facts of this case.

I do not have the luxury of  a large list of high quality tenants.

Even though the house is not luxury, it was quite expensive to purchase in this area; so with cleaning and maintenance costs, our monthly expenses are around $7k.  

They shine up really well when they have original paint due to the high quality of the luxury factory paint job.  

When (not if) it breaks you have to face the decision of fixing it or explaining to the tenant that it was a luxury item and you are not going to pay for the repair at this time.Garbage disposal? 

@Tom Yungit is in an area has transitioned from an old warehouse/industrial district to a hip neighborhood for young professionals with hundreds of new luxury apartment units, retail shops, restaurants, etc. 

Then it was a nice luxury, but people were not dying for lack of air-conditioning. 

You don't on the other hand have the "luxury" of doing a BRRRR  

A/c is luxury in Illinois as well as hot water...not a necessity.