However, as noted above, you must demonstrate that you are serious and can successfully close the deal. 

Napoleon Hill, Think and Grow Rich is a great book that talks about this.

An LLC is useful for two things: anonymity and legal protection.

If I understand correctly your siblings goals are to sell their rental properties, use the funds to purchase a primary residence they'll eventually move into, and limit their tax liability correct?

I don't know if this is for you, but my husband and I have mentored quite a few investors in Canada and helped them purchase their own multifamily. 

I singles out 3 routes, and due to funds limitations I can take only 1.1.

I recommend selecting an investment city based on the following criteria.Key Criteria for Choosing an Investment CityRents Must Outpace InflationFinancial freedom depends on rental income growing faster than inflation.

I don't live in CA, and wasn't aware of the Prop 13 passing to the next owner if it's parent to child and both live in it as their primary.

There will also be a new front deck (and back deck eventually), and a small covered porch with a hipped roof.

PMs can be a goldmine of information, connections, and opportunities.