If this is the case, wouldn't it be better to just partner with my parents so no deed transfers at all and we split the profit?

If one or more investors just pays money and expects to get a profit based on others' efforts, you have created a security and SEC laws apply.

Example income property ROI calculation: 7% cashflow + 3% market appreciation + 5% tax savings & benefits + 4% loan paydown by tenant + 3% inflation-profiting / debt erosion = 22% ROICompare this to a mutual fund ROI with dividend in a taxable account: 7% capital gains + 2% dividend - 1% expense ratio - 1% - 1% cash drag = 6% ROIIt still makes more sense to invest in positive cash flowing real estate, especially with bonus depreciation in the tax code for the next few years.

Lets connect- NW Indiana has been a very profitable rental market for me and I'd be happy to guide you in the right direction regarding the different areas. 

When I first got my license I was told that it will USUALLY take 6 months to see any profit. 

In summary, finding an investment partner can be time-consuming but is well worth the effort if time is put in and the investment is a success for both parties.Don’t let profit pass you by.

Profit SharingSome landlords will be willing to waive or lessen upfront costs if you are willing to give them a piece of the pie.

Since I already own the home I figure we could split the profit from the sell or from the refinance.

Let the tents pay their bills, why would you cut into your profit?

The majority of that margin doesn't have you profiting, and it's speculation.