New landlord question- if I have an individual who wants to rent my place for their parent - who do I have fill out the application?  

So, Anca, your parents can 1031 from one property into more than one. 

Quote from @Devin Peterson: Quote from @Kieran Dowling: Hello,My parents helped me by my first rental property .

After it’s built borrow on full value and gift the parents back the land value?

I wanted a house for myself to live in and I had been living with parents for two years to save money.

Lots of good advice here, but no one asked what your parent's retirement plans are?

If both the parent and child are married, this allows forgiving up to 4 times the annual gift tax exclusion per year.

Quote from @Martin Phinney: My wife and I are considering a move from the Seattle area to the Scottsdale area to be closer to her parents.

It would be mainly rented to alumni, parents of students and people exploring the area by the University of Florida.  

Becoming a LandlordYour house appreciating at 5% annually = $25K/year.Your parents' larger house = $30K/year.Financing the PlanTake out a mortgage on your house to buy your parents' house.If their mortgage rate is lower than today’s rates (6.75%), keep their mortgage and assume it.Why It WorksYour tenants pay the mortgage—not you.Each monthly payment includes ~$300 toward the principal.