If your mom wants to thank you for your help, she can gift you come money on the back end.

My father owns a rental Free and Clear, He is okay with gifting it to me since i manage the rental and the deal with the entire process of keeping up the maintenance ect.

So although renting it out entirely might seem like the easiest option.

I think the easiest route would be for you both to agree on an appraiser, hire that person to get a true estimate.

We're Curious what the best course of action is with this gifted money, probably around $10,000 to maximize the benefits and avoid doing anything illegal!

Since they know other students and know the quality of the house I provided them (they already asked to renew till 2023) they could be very helpful in finding new students for the next house...Was wondering if there is anything I should be aware of while doing so:Is it legal to offer compensation (payment/gift cards/reduced rent) and since we are in tax season is this considered an expense one can deduct?

If you are a W2 professional and want to get started in Real estate but don't have the bandwidth then turnkey is the easiest way to get into investing.

I hate to see people lose their hard earned money and investment when you are not sufficiently capitalized is the easiest way to lose yours. 

A large percentage of these Landlords give their tenants gifts, keep rent low, offer major discounts or even an entire month free for Christmas, buy presents for the kids, upgrade the rentals to keep their tenant happy, etc.Then reality hits when one of their tenants starts making excuses and stops paying rent.

The easiest way is probably to download Dealcheck and okay around with it until you understand what numbers impact what calculations.