How could I utilize my oarents’ ‘renter and landlord’ relationship?

Some common items: HVAC, roof, electric, interior updates, plumbingComparable rents vs.

Are "one time" expenses added back to income even for more common capex? 

My market is in Northern Colorado and it is very common for SFHs to sell for more than asking price - that's just the market.

If you bought as REO from the bank that didn't sell at auction, while less common for you to speak with the bank, not unheard of.

A few of the most common ways to limit tax exposure are depreciation (mortgage interest, property tax, physical property over a span of 27.5 years, major CapEx that can be depreciated at an accelerated rate, etc.), 1031 exchange and using a self-directed IRA (or solo 401k) to invest in properties.

As I understand it: As a 1st lien holder you are actually 3rd in line behind the County (taxes) and Utilities. 

In my market, when you get into commercial it is much more common for the buyer to pay their own agent as opposed to them being paid by the seller.

The "no parties" clause prohibits parties that spill out into the common areas and/or cause a disturbance for other guests. 

One major benefit from that will also be the ability to utilize one management company and if you ever do visit the properties it is an easier process.