Rental property, primary home?

[Erika Timar]

A friend is going to walk away from a property in NC -defaulting on loan- and we offered to purchase for the remaining loan amount. The home is valued at 132k (sale price estimate for it and comparable 140k) and we would be purchasing for 70k. We spoke with a local property manager and she said the property is ideal for renting in the area and she would likely have it rented in 4-6 weeks. The rent (800-850) would be twice the estimate mortgage payments (325) and would provide 200-300 month profit.
We are currently renting and were intending to purchase our own home in the next 6 months or so. My husband has a product going to market 2 months from now that could lead to a startup company if it does as well as expected. If that is the case we would be moving to TX for the company but we currently don't know if this will be the case. If it doesn't work we were considering moving to this house in NC to save money for a more substantial down payment for a home in a more ideal location for us.

We aren't sure how to proceed with the purchase- should we buy it as a primary residence or investment property. We are concerned that the purchase of this home as a primary residence could complicate the purchase of our residence in TX if the company works out. However, the higher down payment may be an issue for us to buy as an investment property.

Any advice would be appreciated.