From a financial perspective, I think the main key is to make sure you are very comfortable with the guarantee of payment you will get.

I would certainly find either a solution by tapping some equity in what you have already or finding some private sources for the down payment.  

Try to find someone with a good strong rental history at your price point that's the real key.

And it's easy to source and document the cash. 

If I was expecting a significant amount of cash out of the deal I would have halted at closing and sourced out new funding. 

You certainly do not have to worry about the Sheriff showing up in 60 days to evict you, the landlord would have to go through court and get a judge to rule in their favor before the sheriff would come out.If you don't mind moving you can negotiate a cash for keys deal, and the current owner would be the one responsible to for the relocation payment.Like Samuel said you should contact the RSO department and they will give you more guidance. 

I have a country house I'm wanting to sell that has a cistern as its water source. 

Property Radar and List Source seem to be popular sites to get lists of foreclosures and out-of-state owners so those may be good places for you to start.

The key is to fined them off market, with the right seller and broker.

For all we know 50% could skip out or the PM used cash for keys.