This will allow you to get a realistic understanding of what you can/can’t afford and a baseline for what you need to do to improve you position and any additional capital to save.  2) Lenders will request the below preliminary information.Name of entity (organizational chart if applicable)Personal Financial Statement (PFS)Schedule of Real Estate Owned for each borrower/guarantor (SREO)Resume/Bio for each borrower/guarantor, if applicableBank statements for verification of depositsLast 2-3 years of tax returnsI recommend using a mortgage broker in your area that is able to connect you with top commercial lenders to get you multiple competitive offers.

When inflation sets in, interest rates tend to rise, making the cost of affordable single family homes even greater.

Your goal, for you parents, should be to MAXIMIZE sale proceeds so they can afford the assisted living facility.

Yeah they'll write the listing (probably poorly) and hire the photographer, but as far as I know they're not going to order a couch and assemble a dining table and stock the kitchen and all that jazz so you've gotta do that either way.FWIW if you're really intent in not traveling to set it up, I did hire someone to do that part for me in one of my properties where some family health issues came up and I really couldn't get away for a week. 

It is a very private community that is well maintained, but prices are still very affordable.

She does have a daughter that is attempting to help but cannot afford the rent. 

House hack a multi in more-affordable Providence.

My market is quite expensive and therefore difficult for new investors to get involved – I knew I would have to house hack for my first property to be able to afford it.

There is nothing wrong with denying a Sec. 8 tenant if they can't afford the rent you are seeking.  

I can afford to do the remodel myself, ($125k), but a full tear down and change of use would be a much larger investment.