My wife and I unfortunately already own a perfect SFH that her parents can come visit and stay with us at so house hacking would likely jeopardize that luxury to some degree, and not to mention Lord only knows when our family will start growing ha.

You may be able to buy at a discount given the limited interest in student housing at the moment.Usually parents will cosign for the kids.Cons:They're college aged kids. 

We started reading about "kiddie condo" FHA loans (FHA loan where both parent and child are on the loan, child will live in the house year round).

And now his parents are selling his house and are set to close this coming Friday!

cite=11.04.015https://www.nolo.com/legal-encyclopedia/intestate-succession-washington.html In WA, the brother inherits the property only if the deceased was not married, has no living children, and no living parents.

I am not sure if it is correct or not, but I look at household income and when the adult caring for the parent took a salary from the parent's income I did not count that as income. 

I didn’t mention it, but I have had the conversation with my parents and they are definitely on the fence about it, as am I.

We are moving to the area with my older parents who would like to live with us.

I grew up in a house where my parents were always renovating a bathroom or building an addition, so at least some basic cosmetic repairs don't phase me much. 

The market crash caused so many to walk away from their properties and call it quits (including my parents who invested in AZ during the same time).