Buying first home and renting it out to parents

I live in NY with my parents in a rental.  Not having to worry about rent or mortgages so far, has allowed to save a good amount of money.  My parents own an apartment (CO-OP) currently being rented out and have some other property currently being developed. Once the property is built, my father planned to sell it and use the money to buy a home for retirement in Florida.  He'll be retiring next year but the money from the property wont be available for another 3-4 years.  Although he suggested selling the apartment in NY and using that to pay for the condo in Florida, I suggested holding on to that property and selling it for a larger profit when the housing market recovers.  So I suggested that help them buy them a condo in Florida.  I would make the downpayment and then rent it out them for enough to cover the mortgage/fees/taxes and have money coming to them from the rental in NY. Once the funds are available from the developing property, they can buy the house from me at that point. Since I plan on staying behind in NY after they retire, I was planning to buy my own place. I'd have enough leftover to make the downpayment on a condo and make the mortgage payments/fees/taxes.  So it would be as if I am buying my own place, and with whatever money is leftover, make a downpayment for my parents home. I can probably buy the co-op from them but I would much prefer buying a condo instead in a different location and prefer the condo fees as opposed to the more expensive monthly co-op fees.

Need some advise on my options here. Is it going to be hard getting mortgages for both? If I buy my parents home first, would that prevent me from getting my own place for a while or vise-versa?  Should I buy my parents home as a "second home" or as a rental? Which would allow me to save on taxes?

Thank you in advance for your advises.