So any ideas on which code violations would offer a profitable balance since the cost of my data is monstrous.  

If you estimate what the interest rate was at the time the mortgage was recorded and the term of the mortgage (most are 15, 20 or 30 years) you can estimate the loan balance if the payments have been current from the date of the recording.

I would gladly pay income tax on the balance of my mortgages if my loans could be forgiven.

Here are my stats:Primary House: $610/ (mortgage) + $385/ (taxes/insurance)-Home Value: $160k, Balance: $65k-15 yr loan, 2.9%Rental House: $400/ (mortgage) + $350/ (taxes/insurance) <- no escrow-Home Value: $130k, Balance: $75k-30 yr loan, 4.5%-Rent: $1500/ (have only received 1 months rent so far)My husband and I bring home $6750/ and have excellent credit.

This is straight from HUD:“Effective for all loans closed on or after January 1, 2001, FHA’s annual mortgage insurance premium will automatically be canceled-once the unpaid principal balance, excluding the upfront MIP, reaches 78 percent of the lower of the initial sales price or appraised value based on the initial amortization schedule and pursuant to instructions contained in ML 00-38.

Mortgage balance is the same. i think his payment is around 1200/ mo, and rent in the area might go for 1500/ mo.

Im not sure how your local market is, but if it was me I would find a balance of investing and living.  

@Annelyse Finley it seems like there is some good advice about looking at what other investment opportunities could be had if you weren't tied up in this condo.Two other things I would note: a) look at the tax implications, for example are you going to hit the limit for your primary residence gain on sale exclusion, and b) assuming you are not short on cash, I don't think the $1,000 cash outflow is the relevant figure to consider, I'd subtract out the average amount being paid towards the mortgage principal balance each month.

and any tips/experience on maintaining a great work/life balance while running a prop management business?

It's all about how you want to do your bookkeeping,, carry over the balance every month, and continue to send past due balance notes on the outstanding late rent fee or write it off.