This is different from single-family homes, where owners can rent out the entire property without residing there.

There are a bunch of different "conventional" loans, and as it sounds like you're finding out the down payment is very different if you're planning on using it as a primary residence vs. investment.

Ohio homes are cheaper so we could find a house that has a lower monthly mortgage and pay the difference to keep this house still. 

I’d love to get some thoughts and opinions on a different option.

If they have not and are “threatening a lawsuit”, that is very different thing.I would still notify insurance that a prior tenant claimed they were injured on X date.

As this would be in NYC the price point is very high so it makes a massive difference.

How are you managing the time difference?

At that point we give the tenant a list of charities and agencies that will assist individuals who are at risk of homelessness so they can get assistance if they don’t have the ability to pay what they owe.I beg to differ that “Literally, in the terms of the contract, it states HUD is responsible for any damages to the property.”  

It's called " Never Split the Difference." 

Come meet 10 to 20 other local Real Estate investors at different levels in their businesses.