Quote from @Evan Polaski: Take this with a grain of salt, because I have never done land development. 

I should also mention that I’m pretty conservative in investing, do buy and holds and live in flips and am not a multimillionaire :) So, take my thoughts with a grain of salt. :)

.• Caregiver wages, food, supplies, licensing, insurance, and overhead are all fully deductible.• Since you plan to live in the home, you will need a clear split between personal use and business use.

Pest control service Seal up the house Poison bait/traps in the attic Tell the tenants to stop leaving their nasty food and trash out and attracting rodents.

The list of property management suites at Capterra is a decent start, so long as you take their reviews with a grain of salt. 

We have them vacate for a few days and put them in a hotel with food vouchers and have the whole place fumigated.

I know my experiences are very limited in the universe of all passive investment opportunities, so take with a grain of salt. 

Are you paying your parents rent and for your own food as part of the $1500 a month of expenses or is that money spent on other things (eg car, gas, entertainment)?

Hot Rods on Houghton/I-10 is willing to host the event in the upstairs bar/seating area on Wednesday evenings, but it is $200 for less than 20 people, and that is food and drinks included. 

I take all analysis with a grain of salt, though, and do leverage rheometer API to doublecheck the rent assumptions.