If you buy the proprty before the auction, it is a regular arms length transaction so you are subject to all the 'landlord ' eviction issues and laws, but if you bid and buy at the auction, then your next concern is to get your 'quiet title' then you rent back to them.

Payments terms and length of loan get worked out once you have a property.Find the property you want to make an offer on.  

I spoke to a local, Panama City, FL bank today about their willingness to fund my BRRRR project. I was told they would go 75% LTV at 6.25% with a 15 year amortization. There is no way I can cash flow with those terms....

@Audrey Ezeh  Average length of ANY home ownership or property ownership is 7 to 10 years. .across the spectrum  we all buy and sell.. buy and hold for 30 years is pretty rare.. but it does happen of course.

The length of time a tenant has lived in the unit in the past is irrelevant.

So unless you really really really need that cash flow, put am length further down the list of important factors. 

Would all the other "arms length" rules still apply after 59 1/2? 

Another thing to look at on the Homestyle Loan are the terms as far as length goes.

How much does a new car cost per foot of length?

Try it by length of time owned maybe?