If you lose them it could be some time before filling in 3 spots 2.  

But if they lose their job too then that is a different matter.

Unless this a MASSIVE downsize (like your rental and your new home in 2 years will both be 1/2 the value of your current property this is probably a horrible idea.)If your property in 2 years will be as expensive as your current property this will be a lose lose proposition.

So if you're okay to potentially lose $5k and you think the deal has enough room, I would pull the trigger.It is definitely a challenge finding a GC that will be on budget in Tampa.

If you haven't moved in, you risk losing your deposit. 

It would be a violation of the agreement and could result in losing my privileges to pull credit, screen for criminal and eviction, etc.

Real estate is a great investment but it's gritty and required time and is stressful.For you I recommend buying a new build condo or town house and renting it out right away or being the financial partner in a joint venture partnership. any other model does not work with your minimal hassle/time/experience expectation. 

Another thought is that you could lose your shirt if the GP fails in their venture or things go sour.

Fix it myself, and lose all that time I could be spending working on the house?

The Housing Authority, in my opinion, wants to control the process by requiring inspection, a 30-day time frame to inspect thus you lose 1-month rent while you wait for them to approve your property.