Should We Rent Back To Seller, Pre-foreclosure??

[Khursten Cornwall]

We have the opportunity to put an offer on a 3 bed 2 ba property that is facing foreclosure.  The seller has indicated they'd sell for around 70k under market value if we allow them to rent the house for 5-6 months after closing so they can get their affairs in order before they move.

They've owned the home for a few years.  He is employed as a high school teacher/football coach.  I do not know the circumstances of why they're facing foreclosure.

Our agent believes this would greatly help this family out and would be a steal of a deal in our pocket.  We are concerned about having to face an eviction situation in 5 months.

We haven't seen the house yet, but it's in a good neighborhood and judging by photos, it's in good shape, just needs a few cosmetic upgrades.  We will have an inspection and septic tested.

Obviously we'd charge him above market rental rates.  Possibly ask for pre-payment of all 5 months?  Definitely going to have a lease and try to get a real estate attorney to look at it.

What else are we missing here?  Is this a giant flashing red light with warnings all around it?

Would you do it?  Why or why not??