Secure a title commitment asap.

Please don't attempt to commit any kind of fraud with an FHA or USDA loan, it isn't worth it.

Finally committed to making the plunge, although I do already have one rental.

Do you have a lender committed to making a $41k loan?

The commitment to get a license is not about you, it’s about the clients you serve, and a number of people who do get their license usually figure this out after investing a few thousand dollars, which is one of the reasons so many get their license, but less than half keep it after 2 years.

The law would typically favor the landlord and compel the tenant to fulfill the lease commitment and "follow the land". 

On investment property loans, being asked to pay a Commitment Fee to a lender upon them issuing a Bona Fide Loan Commitment or paying a $400 to $500 Due Diligence fee is not an unreasonable thing for a Private Investor, Mortgage Lender or Bank to make. 

@Carla YoungI think checkbook control is great for new investors given that they commit to learning the prohibited transaction rules and seek guidance from their providers and advisors when unsure.

That way, if you don't like your housemate very much, but they're doing everything legally right, you still have a way to end the lease and ask them to vacate without being committed to a one-year lease.The income from this rent might not cancel out your mortgage, but it'll minimize it nicely, helping you to accelerate your savings and paying down any bad debts even faster.

The price they're asking is a pretty big initial commitment at first, especially for someone who's just starting out.