So, since the tenant has not vacated, you need to recover possession through an unlawful detainer action in superior court. 

Unless it's illegal in your area for contractors to take on work without a license, or local code prevents a GC from pulling permits, the only real disadvantage is that the contractor can't be censored or punished by the licensing body, which usually takes the form of loss of license and fines.

I know historically buy and hold has always been preached as a more sound investment compared to flips etc, yet 2020 definitely shifted things towards sales being rewarded with low interest rates and buy and holds somewhat punished with eviction moratoriums etc.  

Mortgage fraud is a federal crime and is a Class 4 felony in AZ, and the fines and class type/name vary by state as well as the punishment...

They are the people bribing the officials (which is not punishable legally), not the people receiving the bribes. 

If the 5 days has expired and still no rent payment, then file the UD (unlawful detainer)  with the court or with your attorney.

Older houses can handle tenant punishment because they were built when there was pride in the quality of construction.

If I were you I'd listen to the others, but this seems a good place to share my working solution for my situation, because it might help someone else wondering about this.One of the things that small urban landlords are sadly known for is using their own set of keys to enter the premises unlawfully while the tenant is away.

My question is can you get away renting it before the year or is the punishment or fine severe?

You don't need to punish yourself with an insurmountable challenge.If it were written down to $65k and you could just take over the mortgage, I'd still not want it to hold.