You really need to check local LL/Tenant laws...you may have an out since he really didn't give you "possession" as you have no key and the space isn't ready.Consider this a lesson for future reference.

I agree with @Kim Meredith Hampton check with your local laws with how to take possession of an abandoned home and deal with any personal property.

We finally filed for a writ of possession being that they are not tenants and we have a court date for one month from today.

It's pretty common & usually not a big deal.As for leasing it wait until you have possession before advertising it for rent.

We're executing a writ of possession tomorrow morning and the magistrates office said that if the tenant presents a CDC declaration that it will stop it.

Possession is 9/10ths of the law.This is not for the faint of heart or fearful investor.

While they covered HVAC and water heaters in the basement and we had flood insurance the policy limited coverage on other possessions so read the policy.

The property could lose value more than the principal payments.The challenge of living in the property would be where do you store your possessions while the work is being completed and does this hamper the remodeling efforts. 

There are very few high value actives an investor does:Build and evaluate a teamRaise money / financingpulling the trigger and taking possession of the assetLow value activities (that should be outsourced)Finding dealsEvaluating deals - You must have criteria and a numbers based approach.  

Tenant failed to respond within their five days and I've already been granted a writ of possession.