Regardless, you sort of need to take two steps at once: A) talk with an attorney to understand your options and nuances of those options and B) start having conversations with people you might think would invest with you to understand if there is any real interest, what they are looking for and if you can realistically offer that to them with what you are doing.Once you have that, then you need to understand underwriting with investor capital, proper fees and profit splits, taxes, reporting, etc.

In short, the S-corp election is made at the entity level, meaning you have a few options.  

They found me options and opportunities that I could take action on.  .   

Lenders typically want to see 2-3 new builds completed within a 12-36 month period, depending on the lender.

Typically, in A-Class neighborhoods you end with a prospective tenants that are a little better off financially than most.I also own an LTR in Orange County (Costa Mesa) and I have had good tenants thus far. 

We also see that the SECT 8 typically pay higher than our market rents in many cases in the lower income areas of town. 

A reverse mortgage can be paid off, but the parents may have trouble obtaining financing as typically a reverse mortgage is received when borrowers have trouble making monthly payments and have little income but lots of equity.

You are correct in that your A/E split is typically going to be based on the rental percentage of the house. 

Typically 1%. 

You might also consult a lawyer to see your legal options, for use of the property and what kind of signage you should post.