These are the options we are trying to decide between… thank you in advance!

All mortgages contain a “due on sale clause” which states that the lender may, at its option accelerate (call note due) if a transfer of the property securing the note takes place.  

You have many options here.1) Terminate the lease: It clearly states that they must have renter's insurance and the lapse can result in a default2)Have them cover the damages with sufficient evidence that they caused it3) Claim it on your insurance for the property, likely they won't give a good payout unless a fire, flood, or some sort of wind damage.

If you move, renting in NYC and buying an out-of-state property could work, but make sure you have a solid plan for managing it.If you stay, buying in an affordable market and living there for a while could be a good option.

As both an investor and a mortgage broker who has personally used both options, I can say there are benefits to each.It ultimately comes down to comparing the two side by side based on your specific situation.

Based on the numbers and my strategy, do you think this is a good investment for my first property?

@Polat Caglayan The majority of investors who become involved in the section 8 program do so because they purchase lousy real estate and leasing the units to section 8 tenants is the best option on the table.

I titled this post based on that.

Based on our data, it. takes several hundred calls to even get an appointment. 

Another option is to put an electronic deadbolt on the front door with a non-locking door knob.