If they move out before you find a new tenant, make sure they know that they are responsible for the rent.  

Thank you for the responses.  

@Michael Haynes Thank you for the response.

Thanks for your responses, ideally, i would like to obtain a normal FHA loan and do some of the work myself.

Could I acquire the house by borrowing the 20% from a family member, then turn around and do seller financing to the individual?

Thanks for reading and appreciate the response in advance.  

@Mike McCarthy @Shaun PalmerThanks guys, I appreciate the quick response.  

As a result and from a tax planning perspective, individuals will process partial Rothconversions each year and higher amounts in years that they don't have high earned income earnings because the amount converted from the IRA to the Roth IRA is included in your taxable income for the year of Roth conversion.

I appreciate all of the responses. 

I am looking to expand my knowledge, build relationships and network with motivated individuals within my area.