I appreciate all your feedback, I began researching the topic without first reading other forums on BP so my apologies there.Ellis thank you, that is how I was understanding but felt I was understanding wrong.

Based off experience can you provide some recommendations on if this is a good idea and how to address his rent in this situation?  

You have to know a general idea of what type of work has to be done to the house, and how much its going to cost.

My Idea of a Good TimeI'm speaking with a Japanese Immigration Law Firm next week to gather some more details about the VISA process.

Just an idea!

I'm guessing the appraisers for the auction have some sort idea on the condition of the property?

I reside in Minnesota, and do not see anything that prohibits from having tenants sign an addendum but maybe some people can weigh in on this and if its a good idea to include or not?

Hey Wendy, I have a friend from PHX who might have some ideas for you. 

I am in the process of exploring financing options for my first deal and I came across the idea of government down payment assistance grants.From what I read, these grants can be used to cover the down payment on a low money down loan such as FHA loan, which I was planning to utilize anyway since I will be an owner-occupant.Has anyone used this in the past?

I like the idea of putting less money down.