While my parents aren’t the official owners, they are listed on the title.

Thanks for sharing your situation, it's totally understandable, especially with your home being your primary residence.

Germain Act for certain family-to-family transfers, which is limited and may not help in this case if you’re not moving in as your primary residence).A potential hybrid route could be your parents retaining ownership and allowing you to “rent” or pay the mortgage directly for now, while you save or arrange financing to formally buy it from them later.

Could you elaborate what a resident benefit is or 2nd nature?

Any loan that tax returns are required like a primary residence loan will take into account the income/loss. 

I pulled the initial trigger in 2005 but I resided at that property.

I did not receive ownership until the death of both my parents.

The bank will likely not let you assume the note, especially if your parents are the one living there - not you. 

@Eric Samuels If you parents have to leave due to disruptive conditions the landlord fails to address, then in some states that is know as "Constructive eviction"  In other words your parents leaving is essentially considered an illegal eviction by the landlord.Your parents could be due damages for having to leave.

We are looking for a primary residence, so if a mother-in-law suite or additional dwelling unit is not within our price range, Airbnb would help us rent out when we want, while still living there.