I am debating if I should buy a decently priced home in Florida using a mortgage, rent it out as soon as possible, and have a tenant(s) pay down my mortgage until I am ready to move in and have the mortgage either paid down or nearly paid down.

The guaranteed rent payments are one of the most alluring features because the housing authority pays all or most of the money immediately, minimizing the possibility of payments being missing.

If the tenant is negligent does the insurance still pay out?

HelloI have a land contract that I’m currently paying on but would like to convert to a longer term (15 yr?) 

If the tenant is moving July 31, why do they have to pay another month's rent if you close later in August?  

Then together take it to market depending on what that research shows and client needs.

Quote from @Lucas Hunt:  I will essentially be managing the entire property/collecting rent and my friend will not have to lift a finger.No offense,  but your friend would be better off buying the property for himself and paying a PM 10%.

He is the one paying the rent though.

So, I could still use or lease the lot once I have the deed just wouldn't be able to sell it or clear the title with the lien there or would they force me to pay off the lien before using it?

I have $50K in debt with a payment of about $1220 in a consolidation loan that will be payed off in 3 years.