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.

Fix it and move on,3.

There are no other offers so the back and forth over exactly what needs to be moved has just irritated me beyond belief.It was a leak in the utility room, not a flood.

This covered all sides.Just make sure that the final payment includes a standard lien waiver just to be on the safe side.There are platforms that manage this process as well, we used LevelSet.

I am in the process of purchasing a property, but carefully evaluating it during inspection period. 

It's like trying to find a needle in a haystack to find a county close to me that engages in this process. 

I think some of your exit strategies could be to reposition and add some unique features to your rental to attract more renters and potentially drive a higher price, 1031 exchange and move it to a different area or even market.

Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.

So I think pivoting can be the right move.Florida is a very pricey market, I looked at a few markets around T.B.  80k will not stretch a long way in those markets and I near that the permitting process can be a nightmare. 

Just make sure you know how your going to setup your take-out/permanent financing before you start this process as cashout refi's for conventional have seasoning requirements now and delayed financing has rules and timelines as well.