I know someone who got her parents into a regular apartment when they couldn't handle their own home anymore, telling the landlord they were very independent and she'd be by each day checking in and caring for them, but the mom started fires leaving the stove on, the father would wander away and neighbors would bring him back, creating a nightmare where the neighbors were forced to act like assisted living staff, until the landlord threatened to call city services as they clearly needed assistance.  

When I bought my first residence, I was still living with my parents and had ten rentals.

Thanks Lukas,I am living in colorado currently, and don't want to put this on my parents.  

If we had stayed in CA we would have had to borrow 400k instead of having a paid off house, and our property taxes would have been over $17,500 a year.And then there is what I call the "Landed Gentry"  kids can inherit the tax basis from their parents.  

I have 1 rental in Viera (wish I bought more 2-3 years ago) and my parents have 2, 1 in Melbourne and 1 in Palm Bay.Looking around it still seems like Palm Bay has opportunities for lower cost buy and holds, though its hard from South Carolina for me to tell.  

My parents own two properties that have these, but they were already installed when they picked up the properties. 

This is due to an emotional attachment my parents had to them. 

Currently live and operate in Norfolk, Virginia, and while on vacation visiting my wife's parents in San Diego, California I can't stop thinking I'd much rather pack up all my stuff and move out here.

Generally speaking, even if the closing funds came as a gift from parents with no expectation of repayment, the FHA underwriting guidelines can - and often do - require a statement from the giver saying it was a gift and not a loan.I'm not sure what you can get into a property for in your area. 

I manage 8 properties, 4 are my parents and 4 are my own.How much time do you spend managing them?