I would put it back into your name or trust and use it as a primary. 

@Ilana Shalev    You may not believe it, but my partner created this a couple years ago to explain Philly's many neighborhoods.   

We will have roughly $50-$60k in the next few months that we could use to do a flip.

If the house is built well and has multiple offers the price goes up and you pay more.A good agent knows all of this and can deftly manage the offer, transaction and can make sure you don't over pay for a building that's been sitting, or under bid by a $1000 and lose your dream home.The best agents are skilled at extracting more information from buyers than most so they can put just the right offer down to win the deal.  

If you buy using conventional funding (FNMA/FHLMC/FA/VA), the required "system" won't let you make any big mistake.

This one is a pretty easy work around. 

Any ever use Convoy Home Loans, Inc

Any pros of cons of this approach.

Yes, the tenant is still contractually obligated to pay rent, but you'll have to use the civil court process to collect.

How can I register for this raffle?