I've personally tried to sell a property that was overpriced... the fact that the property had been listed over six times and had seen significant price cuts every time should have given me a clue. 

Sorry, part of my post was cut off.I would not recommend trying to lower my standards of analysis.  

Do not cut any corners to make something look better on paper but not physically.Do not try to do everything yourself.  

I found a ravine/wash cut across the front side of the property.

If you buy the home off them directly, you can cut out the middle man (no agent) save on sales costs and then create another source of income for your family while moving your parents closer to the family.

If you sell one, you could get one more property mortgaged, but if you try to get two then it will probably really be cutting it thin on the DTI and I'm sure it will be hard to buy the second one all-cash unless you are looking in an area that you are uncomfortable in.

If you can find a good deal, you will find investors willing to cut you a check for bringing them a deal they can close, or may even give you a cut in the project.   

I run the numbers with my investor clients exactly the same way I would on my own deals.I don't cut my commission.  

I could attempt to get the house removed from the flood zone as i'm right on the edge and have no issue with water retention but there are cost involved in that as well and no guarantee the will remove it.  

I dislike trying to figure out how I'm going to prepare a meal with one dull knife, no cutting board, a mixing bowl and one tiny pan I can put into the oven.