If you lose them it could be some time before filling in 3 spots 2.  

But if they lose their job too then that is a different matter.

Unless this a MASSIVE downsize (like your rental and your new home in 2 years will both be 1/2 the value of your current property this is probably a horrible idea.)If your property in 2 years will be as expensive as your current property this will be a lose lose proposition.

So if you're okay to potentially lose $5k and you think the deal has enough room, I would pull the trigger.It is definitely a challenge finding a GC that will be on budget in Tampa.

If you haven't moved in, you risk losing your deposit. 

It would be a violation of the agreement and could result in losing my privileges to pull credit, screen for criminal and eviction, etc.

Another thought is that you could lose your shirt if the GP fails in their venture or things go sour.

Fix it myself, and lose all that time I could be spending working on the house?

The Housing Authority, in my opinion, wants to control the process by requiring inspection, a 30-day time frame to inspect thus you lose 1-month rent while you wait for them to approve your property.

Philly is a great example of a place where two investors can buy similar properties for similar prices around the corner from each other and one can BRRRR or flip and the other can lose big time trying to do the same.