Buying/Living In/Rehab/Rent/Refinance while working out of town.

[Neil Orchard]

Does it financially make sense to purchase a home in a city you will be working in for 6 months, do minor updates to and then refinance and rent after you leave. Due to extensive work hours, wouldn't be able to spend lots of time on something needing extensive repairs and therefor wouldn't be able to get something well below market value but something just outdated. Also employer pays a housing stipend that would cover holding costs for those 6 months. 

Just wondering if anyone has done this or something similar.