Can I buy my parents property for only a few dollars?

[Mitchell Johnson]

Hi, I’m a new investor trying to start brrr’ing my first property. Problem is, I don’t have it yet; my parents do. 

They bought a house and fixed it up but decided renting isn’t for them. I told them I would buy it from them, but don’t have the cash. 

My idea was that I could buy it from them for as little as possible ( maybe a few dollars) and then once I finance it, I can give them their asking price. 

Is this possible legally? They own the property with no loans on it as they payed cash. Also, an Illinois property if that matters. 

Thank you in advance. 
-Mitchell