Of course I assume the parents consulted their legal and tax advisors and determined gifting was the appropriate path to meet their goals while minimizing the holistic tax on the family.

I am hoping to cover the carpet and other miscellaneous damage in there to insure that I do not have to foot the bill upon move out.Marcus - I will make sure to add a note to indicate that the new lease replaces the old M2M Lease. 

We decided not to do a full kitchen and bath rehab after it closed (which would bring up the value to around 220k) and we just did a minimal rehab.

They are different though.Delinquent tax lists indicate financial distress.

Landlording is not as "easy" as some of the books indicate.

Their leases probably say something that indicates that they will receive the annual billing within XX days after the end of the year or period or whatever and then they have YY days after receiving the bill to pay, or it's rolled into the next annual payments or something like that.  

Sure they can't but they CAN at least give you an indication "hey if I spend 10K on ads, will I get 1 good lead?

That is the true indicator of value for a single family home.

Is it worth taking my funds to Idaho to achieve this return or should I stay close to where I live here in CA and reap minimal returns?

@Jonathan Johnson here is a template [Short introduction paragraph – indicate you are submitting this letter with the intent to do a specific action (purchase, partner, acquire, license, etc.).