I have my own mortgage (owe $235,000) , but my parents asked us if we want to buy their house from them for what they owe if we allow them to continue to live in the house and not pay us any rent.

A couple follow-up questions:Is it pretty safe to expect interest rates to continue to rise in the next few years?

Yeah that makes sense, I’m wondering if I should continue with a first time home buyers program with intention on renting in the future and even if I can’t refinance I can stack cash for another deal and have a rental while doing it?

We plan to hold this property long term and hopefully the area will continue to increase in value being on a college campus.

Don't be afraid to check out local real estate meetups to continue to build your network and for the free education. 

Would you continue renting and purchase a negative cash flowing property ? 

I can not get home insurance because the project is not complete, the bank that this is financed with requires insurance for this to continue or to even close.

Late payment after 5 days and if this continues make a phone call and send a letter to them.

Transparent tables and chairs can make a huge difference and are definitely in style.

This scenario comes up during our continuing education courses to renew our agents license, but Im sure many agents don't think about this sort of thing when showing houses.