Buying a second home as primary

[Nic Hill]

Hello all! its been a while since i have posted. Im reaching out to the BP community because my wife and i are entertaining the idea of buying a second home, possibly with some property to accommodate my elderly parents. Huge responsibility but that's beside the point. 

My mom and dad have owned a home for 30 yrs now (my childhood home) and want to rent it out. which is good. They only owe 8K on the mortgage until its paid off in full. They are fearful of taking out equity to help purchase another property for whatever reason. Ive explained this is a common strategy used by many people and they are going to be renting it out anyway. Is there anyway to buy this second home with no money down? such a barrowing equity on current residence and doing a stand alone loan? Just trying to be creative to help build them some income for a little more freedom and better explain how to do this properly.