Dont you have an address on the driver license, or any mail on your name that is sent to your parent's house? 

If you keep title in your names (or set up a trust) you're not subject to income tax in TN. 

@Ken Nguyen go to Zillow, type in your address, then when your property pops out (in public view, not in landlord view), scroll down and click "neighborhood".

This was the only bill addressed at closing. 

I pay interest on the money while it's in use, secure it with a note and deed of trust on the property, and then split the profit's 50/50 or in proportion to the amount of the investment compared to the total cost. 

Charles, your post does not have a link, address, or any other information that other people can comment on.

You might want to get a PML first and only get it from Someone whom you trust and by referral.  

DSTs (Delaware Statutory Trusts) are viable options for accredited investor who are seeking to defer their capital gains tax and also don't want to be a landlord anymore.

There is a saying that I believe is true....people sell and buy real estate with someone the know, love and trust. 

But $15K for any kind of rehab seems very minimal and there's more often than not other issues you will have to address that you weren't aware of.