I also believe now is a great time to lock in great interest rates and its only going to get a lot more expensive to get financing later.So, consider looking for a HUD or Homepath that needs cosmetic updates; get in with a low downpayment 3.5%-5% and use your extra cash to fix it up.  

@Sundiata Jackson If you end up pulling the trigger on the deal and are looking to sell as "turnkey" please PM me.

That way I still have the lower rate locked in on my current property.

You can search some other posts on BP for roommate rentals to get additional ideas.Basically I'd keep everyone on Month to Month terms, I'd put the electronic combo locks on the doors to the bedrooms so they have ability to lock the rooms.

@ Daniel JavrvisThank you will let you know if we lock the deal.

It just gets easier and easier to pull the trigger from this point!

Per the lease she cannot alter premises or replace the locks without approval.

some people you will haul around still mainly in rural settings were finding the property without the agent may not be possible  or locked gates that kind of thing.but riding in the car gave you time to build reporte' with buyers as well.

I just need to educate myself on how to raise the initial purchase money and then pull the trigger. 

Since this house was sold with an underlying mortgage it is possible that the bank that holds the mortgage could foreclose because the due on sale clause has been triggered.