We choose 20% since we would be out of state / wanted to be conservative but can adjust downwards.

A lot of investors based in markets like California and New York are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

I'm looking for advice on what I should choose. 

Some of these renters are capitalizing on low interest rates and choosing to buy, but many are unable to buy due to lack of down payment or credit factors. 

I have to evict using the landlord tenant route, but I don't know which reason to choose.

As for tenant demand, choosing properties in core locations is more stable.I find it easier to add value to a mediocre but prime location deal than to strike a good deal on a substandard property. 

Tenant screening is challenging and you have to have the right process in place to make sure you choose wisely.The main thing as many said, this shows a red flag on the amount.

Or you might choose to hire a handyman to do some work and manage them more closely than you would a more proficient contractor.

Why would companies choose to set up new operations in a high operating cost city?

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.