My parents worked with him once also. 

I find there is a decision tree:@Angelina Frascarelli and @Thomas J Mele  this may be helpful as well.First- do you own where you live, live with parents/family, or are you renting?

As millennials are having families and doing a big chunk of traveling, they need more STRs unlike the Gen X generation in which everywhere their parents brought them, they were stuck and crammed in one hotel room sleeping on 2 queen size beds.  

After the loan was deemed illegal my parents have had every payment deferred.

But the tenants are out of country travelling and the parents offered to sign the doc on their behalf.

Currently house-hacking this property: PITI payment= $2,700 (Includes $300 HELOC payment reimbursement to my parents), Monthly rent from one unit= $1,800.

What have other done in the past when a college kid comes home for the summer and lives in one of your rented units with their parents. 

Since my parents are against co-signing, I assume I'll have to either find someone else willing to co-sign, be patient until I can produce enough consistent income or come up with another strategy/plan of attack as I continue to gain knowledge from BiggerPockets. 

Currently house-hacking this property: PITI payment= $2,700 (Includes $300 HELOC payment reimbursement to my parents), Monthly rent from one unit= $1,800.

Have their parents be guarantors and get a hefty security deposit ahead of time (within reason of course).