Now post-COVID you have a larger inventory, increased prices, increased interest rates, increased property taxes, increased regulation (even Smokies are now requiring permits) and increased insurance and at the same time return of the reduced Pre-COVID occupancy numbers. 

I have been paying a lot of taxes every year from selling stocks and have a high W2.

If I have a LLC and use a property management company for my rentals am I subject to the 1% earnings tax?

They would likely lose any homestead tax benefits and possibly lose other things as well.

We would want to make my parents the 'renters' and we as the landlord.Question: In terms of taxes, is there something we should consider when renting to our parents?

I'd also be benefiting from the latitude to pay down or not on very flexible schedule.

Seller financing is a great way for the seller to avoid a lump sum capital gains tax, and still make steady/expected income on a property even after they sell it. 

We are wanting to start a House Flipping business and are just looking for some legal and tax advice.

This is generally not tax-favorable as you are taking a large chunk out of the IRA at once and will pay a high rate of tax.  

It pays the taxes, the water and sewer, and the cost to heat the property while leaving some for maintenance.