My brother and I would like to be co-owners to the new property but our contribution to the purchase of the new home is by way of investment loan, so let's say my parent's home sells for 500k and they want to go in on a $1M piece of property.

In general max LTV on 5-8 units will be 70% of the purchase price.

I live in Virginia and looking to purchase a duplex in Texas. 

They didn’t want to sell on the market because they didn’t want to do showings.A Win-Win Offer: These are the Terms that Were Accepted-$500k Purchase Price.

Basically 7% of the purchase price in annual rent is what I look for.

Purchase price: $177,000 Cash invested: $68,000

-Lease to buy @ $930,000 (currently appraised at $890,000)-2 year term with option to purchase at the end of term-Non refundable 3% option fee of $27,900 -Rent $4700/month If purchasing at end of term: Option fee applied to purchase and 10% of all combined monthly rentIf not purchasing: Option fee is non refundableSeller able to break contract anytime with 60 days notice if agrees to pay renter 2x amount of option fee.

Ask for that off the purchase price or however you see fit, or kill the contract.

@Geoffrey Paugam- agreed ...if you are  needing to use financing to purchase - make sure to have a full loan pre approval in place  before searching / offering for a new place . 

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