Then I listened to Rich Dad Poor Dad on audible TWICE.

@Kiyong Kim If you stipulate in your lease that they have to move out at the end of one year, or try to rent to someone you know/ someone that may know someone looking for a rental for no longer than a year at a good price, then you should be a little more comfotable with the decision... but even then, it can still get to a point that you take them to evicition court, and have them legally removed, Though if it comes to that, having as much legal documentation explaining the terms of the lease would best support your ability to get back in as quickly as possible. 

A few keys to quickness: Your contractor should be ready to demo the day you close and own the propertyYour lender should be included BEFORE you close on the house so he can make sure the HUD is optimal for extracting all your cashI put the property up for rent about halfway through rehab, once it starts to have the GLOW of opportunity ;) overall it was pretty easy.  

I know the seller is a little squeamish and just wants to close quickly and FHA tends to take longer they are more strict about the properties condition (chipping paint etc) and I do not want to scare him away. 

Houses will only become more and more desirable to a group of people who's incomes are going up very quickly. 

Check the Get Rich Education Podcast, there is a lender that frequents the show named "Chalee" something (that is 100% spelled incorrectly). 

My credit score is just shy of 700, but it's climbing up quickly. 

(*Books- Cashflow Quadrant, Rich Dad Poor Dad, All Brandon Turner's Books, All J Scott's Books, Millionaire Real Estate Investor)2.

You have the opportunity to make a quick pile of it with little to no risk and without the headaches and hassle of a full rehab.

This is a way to quickly get a number, yes.