I treat them as rental properties during analysis and ensure that once I move out, it will still cashflow.  

Do I just ensure that I charge a rate that nets me $5K more over the life of the agreement?

If an agent were by chance interested in the same property you were investment or not, the ethical thing for that agent to do would be to notify you of their interest and refer you out to another agent to ensure objectivity and impartial treatment.  

It's a small price for education and it ensures you won't make this mistake again.

You will want to get advice from a local, investor-friendly attorney to ensure the contract aligns with local laws, meets your business goals and protection requirements.   

Check your properties as well on the registry to ensure no one is illegally living there that is a sex offender.

Explain that you're a potential buyer and you have a contractor prepared to draw the appropriate permits to do the repairs- but you want to ensure you have reasonable time to do so (so you're not slammed with the fines).

At the end of the day, the job of a lender is to ensure that they are lending money to people who will pay the money back and we are required to do our due diligence to vet all borrowers thoroughly.

Then ask that attorney to set up the kind of trust that ensures that no legal transfer of the ownership happens until both parents pass away.There're many ways of how the control of such trusts is set up, depending on what you and your parents wish.

Your CPA and attorney should review your situation to ensure that the new LLC would be considered a disregarded entity for tax purposes.