It has something to do with reducing self-employment taxes. 

I plan to actually keep some of the exposed brick on the interior even though it would reduce energy efficiency.

True, you will still have PMI, but it is at a reduced rate because the LTV is lower. 

We would all be reduced to tenants beholden to the government for housing.  

I’m considering selling my Bay Area home and renting to drastically reduce my expenses for a much quicker route to financial Independence: https://www.financialsamurai.com/real-estate-investing-rule-rent-luxury-buy-utility/

Background: We (me, 25F, and husband, 28M) are semi-low earners for the FIRE community and the urban area we live in and have hit a point where it's hard to reduce expenses much more.

This one came in around 120 PSI, which is about the highest I've seen, and would likely require installation of an expansion tank and pressure reducing valve.

Ideally everything would remain under my parents name initially if that is the best way to reduce any taxes on the sale.   

He has reduced the price quite a bit since then and is now nearing a level where it is still overpriced but somewhat realistic.We are in the market for a house and he suggested that we make a private deal after the listing arrangement ends.

I had to wait till 9 years to apply for my reduced widows benefits.