Is selling my house then renting it back from the buyer smart?

[Levi Eubanks]

I'm trying to do something a bit unconventional.

I'd like to sell my house to an investor now, then rent if from them for about a year (give or take a month or two). We're currently building a house and can float both, but I would love to get access to the equity in my current residence sooner than next year when our new home will be finished. HELOC is an option, but I would prefer to sell to an investor and keep occupancy while renting from them.

Has anyone done this? Are there any cons that I'm not thinking of? 

I think of it about like a HELOC but also a hedge against if the market turns in the meantime. Not likely to happen, but just a hedge. Thanks!