The only thing more passive than what you have now would be selling them and buying into passive securities like stocks, bonds, REITs, private placements, syndications, etc., but then you are likely paying taxes (unless it is a DST, TICK, or some other security designed to avoid taxes) and definitely giving up control.

If you do this yourself you simply sell stock/bonds/etc to cover yourself. 

General contractor is available in Washington state and is licensed and bonded to do your fix and flips!  

If you do find "licensed, bonded and insured" contractors that are willing to work for nothing! 

If one invests $50,000 in stocks, bonds, mutual funds...whatever, how much does one control?

IF you are willing and able to invest the years of time, effort, and money and IF you are able to perfect your systems and get a good team in place, then at that point it can be profitable and passive, but understand that those are a LOT of IFs ... you need to go in with eyes wide open to this fact, and not expecting it to be like buying a stock or a bond ... and no, buying turnkey does not excuse you from the necessity to do this, because the turnkey company's systems are optimized to maximize THEIR profit, and not necessarily YOURS.

Wells Fargo offers 1st + rehab loans but they have stringent rules with regard to contractors you hire (Which makes it quite expensive) and the whole process is lengthy and tedious.

Do your parents invest in the stock market, bonds, or anything?

Not to mention your possible requirement to be bonded and insured.

Let me know what you think, and thanks for reading this lengthy post!