There is a lot of hard work involved in building up assets and cash wealth plus also great credit that can be used to position you to be able to make investments with OPM (other people's money) i,e. banks, and other lenders like private and hard money lenders. 

I am far from my mentor's abilities to analyze assets but am enjoying it. 

The bank has come way down from asking. 

I get it... you have cash, you are banking on 10% appreciation... 

In my humble opinion, (after spending the last 8+yrs “managing” /co-financing my parents’ home and then their rentals) I highly recommend helping your parents sell their house & enjoying your non-business relationship with your parents while you’re still able.           

After the rehab, I want to rent out the property and put conventional money on it, I assume the bank I get the new loan from would look at my debt to income ratio correct?

I also require tenants to direct deposit through payroll deduction or going to my bank and physically depositing rent...no alternatives.

I have a small local bank that I have been using for 4 years.

Listen to the @Gino Barbaro podcasts, they say go for it "Lean into" deals, but you gotta have cash to get the wheels moving with the bank, then once you have the "relationship", you can do lots of things.

I thought pulling 100k in bank mortgage to use cash for other investments, pay them a percentage for the usage and would still have approximately 700$ monthly payment on 20yrs 5.5%.