What are other options do we have if we don't have piror experience? 

As others have suggested, you could get a conventional or FHA loan if you want lower down payment options.

I sure don't want to consider myself an abuser of this forum, and therefore don't see that as a proper solution.Nonetheless I do agree with @Joshua Dorkin that it can disrupt the flow of conversation... but I don't agree that most forums act this way; I've been a member of multiple forums, and most of them have options to delete posts... rather than contacting support or marking your own post as abusive.I digress...

The only other option I see is a short sale, if you don't need to purchase for a few years and don't mind a temporary credit hit to save the $60k.  

We have 2 San Antonio sub2 deals that are turn key homes and only require about $20-25k to close (assignment fee + closing costs).They're a great option!

Airbnb.org, the nonprofit arm of airbnb.com, offers hosts options to assist with emergency housing in times of crisis, such as the 2025 Los Angeles wildfires.

They likely will be a bid on the 2 year balloon options, too, in 2025. 

My budget will be around $200k but I’m meeting with a lender on Tuesday to go over all of my options.

Showdigs is another great option for landlords in your situation.

If there are lease violations, mention them-you not having a key to access the unit WITH proper notice or in case of emergency is one of them.I'd also tell the tenant that they are clearly not happy there, so finding a new place is in their best interest as well and as they have several months, they should have lots of options.