I have some homes there that I would love to discuss with you.Send me a PM or email whichever is convenient for you.SUCCESS BREEDS SUCCESS

As such they will probably offer to buy a number of payments where there investment is less than 50% of the sale price or as is market value of the property, whichever is lower.

Because whichever state you choose you will need to be one the road a lot in that area.

So you'll be 100% financed on the deal and you'll have to pay back a personal loan or HELOC, whichever you are using. 

I would suggest whichever market you select, really dig in and don't give up.

 (3-day notice to pay or quit as per lease or NYS law, whichever is more generous)You'd like to get him out during the spring so you can turn the unit over and rent it out before the fall, when it will be more difficult to find a good tenant as most people move in the spring/summer.It will be rough for a bit without the upstairs rental income and/or the eviction expense, but you'll be glad you did in the long run.  

Best of luck to you in whichever market you choose!

This should be a point of consideration when looking locally.My advice: whichever market supports your investment goal (cash flow/appreciation/etc) and your risk tolerance (laws & restrictions) is a good place to start looking for deals.

Is the tenant still responsible for the lease until we have closed on the property (or the lease expires, whichever is sooner)?

Whichever works for them.