or, only after you've paid yourself back for your down payment?

If tenant below is paying 1,500/m he's living in area he wants for roughly 750/m P/I payment.

Financing contingency is there if you can't get the loan at the amount you thought, interest rate is raised or your payment changed higher than you put in the loan could give you an out.

You should be able to go as low as 10-15% down payment with your experience.Ground up Financing: Most "ground up" financing options require a bit of experience - 3-5 exists (rehabbed & sold or rehabbed & refinanced in the last 3 years).

The total cost for this monthly for me is $1.00 fee for online payment for Sevier County, TN and the .73 cent stamp for Blount County, TN.

Are you strapped for the down payment?

If you do have to move because of a job, you would be safest (in my opinion, i am not giving legal advice or financial advice), i would sell that property to ensure that you did not just purchase with the goal of moving out early and taking advantage of lower rates and lower down payments for purchasing your home as a primary residence. 

But, you can go up to 65% loan to value with no reserves, or up to 80% loan to value if you have 12 months payments already in the bank (12 months reserves_.

The payments and interest are high.

In my experience that's not actually the case at least in legitimate evictions for non-payment of rent or breach of another part of the lease.