He said that they would either TEAR IT DOWN OR DONATE IT IF IT DIDN’T SELL, which makes me think I could get it even lower if I played my cards right.

Going multifamily here is a solid play.

I'd emphasize that tax assessment of $700k means market value and potential sales price of well over $700k, exact amount depends on the exact location and condition of the house of the house and land.The best financial situation for your parents may be to sell and pocket cash from the sale, but I understand there are always more factors in play: maybe they don't want to move, maybe they couldn't afford buying another house that would meet their wants/needs, horse boarding, etc.As far as if this is a good investment for you, I'd say yes!

The investors who play the long game always make money is the moral of the story.

People that are set with these crazy low rates will look like geniuses 5+ years from now...IF that inflationary scenario plays out.

There may be good deals later after the effects of all this play out, but there's still good deals to be had now.  

I wasn’t too sure about the wholesaling thing, it’s just something I came across and I know CT house prices can get pretty high so I wasn’t sure how things would play out, especially for a beginner.

PercyRegarding his aversion to debt, he shared a few horror story situations that his father and uncle got caught in and as a result has chosen to play it ultra safe. 

You do see some new small MF going up in some of these areas, but I really never have gotten a good idea of what is really going in where.So I had a bit of downtime to play around, so I fired up Redfin and just played with some parameters. 

I realize these estimates will play into the CoCROI which is likely to have some effect on my willingness to purse a deal.