I still don't have adequate expertise in this area, but got too much interested in this as I could earn better here than my regular job, even though I wasn't putting my entire energy and time.Before the pandemic, I was getting ready to be a full-time real estate person and was up to tie up with a reputed team.

If this were regular arms length transactions, how in the world would that work, especially without any paper? 

Is it just a promissory note produced by an attorney with type of loan/interest rate? 

If you're open to working virtually there are several awesome tax pros who are regulars here on the BP forums.

In maps, I usually check satellite and regular view to see what's around the property.

That’s a lot of money for a truck if you’re not regularly using it on the job.

 Hi @Christopher Dunson regular real estate attorney should be able to structure this for you. 

I fully vetted my contractor by checking reference yet he didn't produce.

My parents are very close to paying off there mortgage and I see this as an opportunity to produce cashflow.

You will also have to deal with tenants, booking platforms and more issues than a regular rental property.