Now, don’t get me wrong—I did accept the inspection report and signed the offer to purchase.

You just filled in and registered to the country clerk.Title companies won't accept to transfer the property without using a warranty deed, because they can't insure the title, but that will come when your parents sell the property and at that moment your parents will create a warranty deed to the new owners.

You'll either need to put more money down, or accept the reality that high leverage creates a higher debt service payment.

I’m not sure if I should accept the offer and roll my equity in a new property or just sit tight and see what happens?

To show a home, you must have either a non-exclusive buyer agency agreement (a one-off) or an exclusive buyer agency agreement signed with a client to show them homes.

Only way I will lock myself into 1 is if the exit fees are not prohibitive and % basis points is within acceptable ask price from the present lending rates, can surely go in for a higher deposit to tilt the balance towards positive cashflow i.e 25%-35%.

Then use section 121 tax exclusion.

How could I structure a deal that would sound acceptable....   

I have three sets of cleaners and they get the offer to accept the job in order of my preference.

@Luke Rusten have personally used a higher price to get sellers to accept my seller financing proposals many times in the past!