I am going to take over my parents California home mortgage after they refinance to buy a home in Utah.

Question 3: Is the longer term solution for the theoretical LLC that I control to own multiple assets, in which case they and their cash flow would be considered by mortgage lenders for future mortgages?

That's usually the best way from the beginning to keep everything under control.

I never intend to evict, but it is the last recourse you have as a housing provider and if the tenants know you won't actually follow through then you will never be in control again. 

I took control of my life and told myself I will only focus on those things which "TRULY" bring me happiness.

The newer ones continually have repair issues, mostly driven the electronic controls and complex systems to squeeze out efficiency. 

Walk Through Pre-RehabA family friends parents inherited this place twenty years ago and since it was in such a bad neighborhood (at that time), they just shut the door and paid the taxes for 20 years.

Once I graduate I would start doing it as a one big monthly payment for the whole house and not charge by room.The biggest problem I can see with it is not being able to obtain the loan without a cosigner but my parents are a little hesitant on the whole renting business.

But these people usually lose their shirts.The rehab-to-rent model is pretty much dead in western Pennsylvania, especially in C-class, unless you can control rehab costs mercilessly.

In my experience though, self managing the pricing structure, guest experience, and messages are things I want to control and don’t need to pay someone else to do.