On my low-end stuff ($30k-$100k), I do half of first month's rent, otherwise no one could afford to move in.

I'm nervous that the owner might balk at the fee I'm earning and I can't afford to sue him right now and he doesn't have anything for me to get but equity anyway.

Lastly, the foundation guys and roofers I use are great for that as they get these massive jobs where people can't afford their services.  

I'd consider it a safe investment, if you can afford to hold for a while.That being said, your buy-in will be significantly (prohibitively) higher than most places in the US.

What if they couldn't afford that at that time? 

Unless I'm missing something, I can easily afford it but the problem might be getting the financing so I haven't looked into it yet.

Now, I guess the forum chatter can continue for entertainment purposes, just don't get any ideas, please!

http://www.inman.com/next/11-amazing-real-estate-facts-to-entertain-your-brain/

But you can still find something in that price range, just maybe not close in.The problem that I see with your plan is that it may be difficult to figure out how much you can afford to pay each month for a mortgage without knowing how much you'll be making at your next job.  

The house is in a neighborhood that is still fairly affordable and transitioning.