A bit pricey if you do only a few flips a year, but I'm going to give it a shot and seems if it's worth the monthly cost. 

For example, most anywhere will get $700 room, $75 fixed rate utilities, $700 deposit, and then offer a 36 months, 12 month, or month to month lease ($350 fee if ending lease <90 days). 

We purchased the house about 3 months ago and are owner financing it.

Three out of the four units are section 8 CHA tenants, so the rent is on time each month, but we have to do an inspection every two years.What is the condition of the property you are looking at?

Being out three months of rent plus $1,500, I'd be better off handing back their SD and forgiving the month of rent they couldn't pay.  

We have a local roadside assistance company here that charges only $15 a month for hassle free roadside help here at the apartments and around our valley for our student tenants  that may be new to car troubles and away from home!

Renting the PropertyIf your parents rent out the home, they have multiple income-generating opportunities: Renting As-Is: A 4-bed/2.5-bath home in a desirable area could command a high rental rate, likely around $2,500–$3,500/month, depending on local market conditions.

Quote from @Jaheen Ahsan: Hello,So I bought my first house hack back in July, and I've been trying to find roommates for about 6 months or so and haven't quite had any luck.

Im nervous to pull the trigger because I am seeing similar homes in my area that have been listed for rent for MONTHS...

You could structure the deal with seller financing to bridge the gap.Possible offer structure:-Purchase Price: $170K - closer to actual value-Down Payment: Low or zero down to conserve cash-Interest Rate: 3%-5% - or better yet, 0% if the seller will agree-Monthly Payments: Interest-only or deferred until the sale-Balloon Payment: Full payoff in two years when you sellIf he wants $200K, you can still make an offer of:-$170K purchase price + $30K as a second lien due at closing-Seller carries $170K at a low interest rateHe would feel closer to his number, but you still keep within reasonable investment limits.2.