I would ask the lender, but probably not most lenders want you to have skin in the game, even the seller takes on a lot of risk if you don't pay, because they would not be first loan position. 

Bottom line, if you want in the game you will have a situation when it's owner-occupied that you live very cheap but not free (ie 400-700/month), when you move out you will have very modest to even cash flow for the first few years. 

You are late in the game.

Flipping sounds neat, but if I find a place thats worth holding and renting I am game for that too. 

Just remember, you don't need to knock it out the park with your first deal - you're just trying to get in the game.

By day, I'm a Technical Project Manager for a large console gaming company.

They have more skin in the game then you do.Make sure you get clear title.

If your good for tonight, then I'm game.

The challenge is working thru' the permits and finding a good modular company who could customize the home. 

In the end, his game plan was to try and take the property out from under me!