It is a “known fact” that insurance company’s offer low rates (even below cost) to attract customers and then raise the rates until they hit a customer’s pain point. 

I was 25 and my wife was 23 when we had our first baby.We fell for the “American Dream” and bought a single family home.Oops.Terrible mistake.Yes we have equity in the home but we could have equity AND cash flow.We should have bought a multi and then used our cash flow to buy ANOTHER multi.From there generate enough cash flow to pay for the LUXURY of a single family.Supplemental income is a very beautiful thing.Is it pretty and attractive in the beginning years of marriage and children to live in a multi?

That means advertising short lease terms will attract people who don't plan to live there long.

My guess is overall this is going to look less attractive adding in more of those expenses. 

Use an alternative source of financing such as seller financing. 

Id like to take advantage of a 40 year loan term to help make the cash flow more attractive.

Needless to say, Chase won't finance anything I want to buy.My mortgage broker suggested either taking me off the parents' deed (which I don't want to do at this point) or providing 12 months of bank statements that my parents have been paying mortgage out of their account without my name on it (which I am unable to do because of certain arrangements with my parents).It would be great if a lender or an experienced investor could chime in and let me know if there are other alternatives to deal with this as I have already found the property that I want to purchase.Thanks

Of course the market plays a huge factor in this, but if you can flip the property and make it an attractive buy for your buyer pool then why not do the deal?

Or what would be a better alternative if it's not possible? 

Alternatively, if we choose not make the monthly payments, how do we proactively ensure our loan is not reported as delinquent since we do not own the home any more?