I just came across this link that might be worth considering when choosing a tenant. http://www.quora.com/What-are-the-most-interesting...Read the comments posted there too. 

My PITI, insurance, and taxes seem higher because of the financing I am choosing.

If you had to choose one, which group would you attend, especially as a newer investor?

Another is Circle of Influence...I can offer an investment deal to my friend from college, and he can choose to invest $250k with me, even though he's not an accredited investor. 

 $80000 all cashAll the numbers for vacancy, taxes, and insurance I kept the same except condo has $125 HOA a month to maintain law care and pool maintenance, which I hate.I posted the numbers on the bottom, and I need to know which property would you choose and why?  

If the tenant decides not to exercise his option to buy, the landlord keeps the excess rent as his option fee.When a commercial tenant chooses to exercise his option to buy, he will need a commercial loan.

My wife could choose to get a job if she wants "fun money", but my priority now is freeing myself from the rat race.

Also another piece of advice that i 'd like to offer you is to choose a good title company.  

The loan originator may choose to:1) have the amount of the credit remain the same as stated on the GFE to cover additional closing costs previously not anticipated to be included in the ?

If you were to market, I'd choose a peripheral market that will still have a tourism draw (Ocean City, Brigantine, Avalon, etc).