However, we are currently living in a home my parents own which they use only during the summer months.

The hope with that one was to both control the neighborhood and to make a little money, it's doing very well also. 

And which tenant will control the thermostat.

I have told my tenants that I was planning on converting the garage since February, and kept on updating them over the last few months that yes the conversion is indeed happening, this is the date to expect it to start etc.Due to their own personal circumstances, they brought an elderly parent over to the rental unit, along with a bunch of stuff that they are storing in one of my garages (that I will be converting).

It’ll change the way you think about it and it will also put control back into your hands.

Simple reason- Inability to control an HOA costs and rules which can affect our bottom line.

So, unless your property appreciates on its own which you cannot control you may not be able to refinance out money to buy the next house.

A parent company.The two factors to keep in mind are the valuations of the properties and the risk of the properties.

Hi, I've come to ask a problem I am facing with in a townhome rental property my parents own. 

My plan would be to move in for at least 6 months, since I'm moving out of my parents anyways and gradually do the renovations one by one (mostly cosmetic).