Complete the kitchen and living area remodels first as that will make your home more desirable for people to rent and will minimize the inconvenience.  

If not, then no worries;  this is a a well trod path and you can safeguard yourself to minimize the financial impact.

Your parents could be liable for capital gains taxes so you'd certainly need to talk through each party's situation and the best way to meet your goals while minimizing taxes.  

Generally, a SFR or small multi 2-4 unit purchased at retail (MLS) will cash flow negative, or at best minimal cash flow WITHOUT a value add.Your best value adds are the rehab and the ADU addition.

So, for someone who wants to hang their license with a company but doesn't want to commit to the education to minimize the BIC's exposure....it doesn't seem like a great arrangement for the BIC if he doesn't know the person.

It is located just across the street from the college in town minimizing any vacancy hopefully.

or are you just scooping up small-minimally producing cash flow properties to build up your portfolio in general? 

I would love to walk you through a few techniques to get strong ROI and minimize headaches. 

Since I'm working so many hours and just starting in my career, I want a multifamily that requires minimal-no effort in repairs.

I would say in most areas of OKC it would add minimal value.