Long story short, my parents just purchased a large home that we are going to live in with them for awhile, and I will be renting out the single family house that I live in now.For my next property, I would like to purchase a property and use it straight away as rental property.

My parents just decided to sell their home in San Diego.

Use your home of record address (like your parents)2.

Perhaps where your parents/sibling live where someone could lend a hand and put eyes on the property if needed?  

The law used to be you just couldn't rent to a family with a child under 6 without getting the unit and exterior deleaded, but they recently changed it so that all of the liability actually stays with the building and transfers from owner to owner until it gets deleaded, including the liability of past tenants. 

I could easily find myself trying to contract the house a recent widower, or parent abused by their child.

Or are you aiming to have a more affluent/higher income party (like a parent) co-sign with you for their impact on the underwriting?

-------------------------------------------------------------So we/[my small LLC] needs to decide to reinvest into the parent LLC or cash out.

My parents distributed their estate among four children.

-IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)-Code Enforcement Liens, Environmental Liens, and Utility Liens-Child Support LiensThese are the liens not included when the seller goes to pay for title insurance, most liens will be cleared except these.