To give you a slightly different perspective Grant, I'm in Southeast Mass. and have been buying and hold in multis of commercial size 5+ units. 

Increase in Family Size - A borrower may be eligible for another house with an FHA-insured mortgage if the borrower provides satisfactory evidence thatThe has had in increase in legal dependents and the property now fails to meet the family’s needs; andThe loan-to-value (LTV) ratio on the current principal residence is equal to or less than 75% or is paid down to that amount, determined by comparing the outstanding mortgage balance to a current residential appraisal.Vacating a jointly-owned Property - A borrower may be eligible for another FHA-insured mortgage if the borrower is vacating (with no intent to return such as divorce, legal separation, etc...) the principal residence which will remain occupied by the existing co-borrower.

If you choose to go that route make sure there eviction rate is low because they are screening the tenants.

This area is a new development and lots are selling for 160k - 225k depending on lake view/size/layout.

It looks to me like you have spent a lot of time and effort dealing with problem tenants that should have been caught in the screening process.

I certainly screen my tenants hard.

I have a decent sized list of cash buyers who get my props, all have diff. things that make them pull the trigger (or not).    

@Max James Depends on the size of the house.

My goal is to increase the size of my pocket, make it bigger, if you will. 

Tyler, If you want to save money with windows make sure your windows are standard size, specially if is a low budget project.