Where is your parents house and why is that even an option to turn in to a multi-family? 

Would it be bad practice for a few individuals 3-4 to pool money together to start investing in small multi family places 4plex or smaller?  

.- My ideal property would be a 2–4 unit multi-family, but I know those can be scarce in this market.- I’m also open to starting with a single-family property and renting out rooms, though it’s not my first choice.- I work in Southlake, so I’m aiming for something within 30 minutes of there (or nearby areas).While I don’t bring a large amount of capital to the table right now, I do bring time, flexibility, and a strong willingness to learn and put in the work.

Shopping around. So far, the rates we're getting are much higher than the previous owners'. Building is over 100 years old. Any recs are appreciated! 

It doesn’t just go for people around you like friends and family, but also people who are investing. 

A 1031 exchange could work if the replacement property is held for investment, not just to rent to family.

I am the financial power of attorney for a family member that had a stroke and does not have legal capacity to sign docs for themselves 2. this family member has 5 properties in their revocable living trust, i am the trustee of the trust3.

I have a strong work ethic and am eager to learn new things.My goal is to build a legacy for my family one day.

Short answer:  it is baked into the business model.Long answer:It seems you may be overly concerned on the transitory nature of apartment renters versus single family renters. 

My name is Chris and I'm working to secure my first deal, aimed at a small multi family property in Salt Lake County.