All that to be said I don’t think either one is the wrong choice assuming your market doesn’t have capacity limits. 

If you don't have the right team on the ground in the other market, you could make a bad buying choice.

Better to use QuickBooks or excel or similar to manage your finances. 

It's by far the best financing terms; lowest amount down (3.5-5%), best interest rates and an excellent way to learn how to landlord without big risk.

Every city's program is different, but the one in Los Angeles is excellent....I couldn't do without it.Also, one thing you want to keep in mind.... even if you rent to a non-Section 8 tenant and something bad happens, one of the things that will be examined is whether your unit is up to code. 

Renting in this market would be a poor choice. 

That's excellent information.

The house was big enough (and spread out well) that each family would have their own privacy.Unfortunately mom did not like the choice of husband her daughter made and commented about this. 

They co-own recently inherited properties with excellent investment potential, but have no desire to deal with everything it would take to develop.

If they say refinance, it may be your only choice with them, or as Caleb said pay down the difference.