I don't have a network of investors I am part of, and honestly I don't think these properties are especially well-suited for an investor.

To make a lot of money as a PM, I think you've got to make compromises that I'm simply not willing to make. 

If it's an investment property, then I think your best bet would be to move the property into an LLC with you and your parents.

Really helpfulDo you think HELOC can workout for turnkey investment or other loan types?

@Jagan ReddyI'm not a CPA or a cost segregation specialist, but I do know that if you are not designated as a  real estate professional, then you can only offset passive income by your passive losses.Qualifying as a real estate professional is more challenging than most people want you to think.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

That's exactly what I was thinking!

Also tax and municipal liens typically survive foreclosure (so think code enforcement liens for not mowing the lawn).  

When I followed up and asked for a specific reason (thinking it might require an additional payment towards principle to put me under the threshold) they wrote back informing me that investment properties do not qualify for automatic termination and that PMI will remain for the life of the loan and if I want to remove it I can look into refinancing. 

For example, I often see Buyers purchase property thinking there is a $1,000 deposit but then the tenant claims it was $2,000 because they paid the last month's rent.