Even in places like NY you can work with the legal system but it would be a good idea that whatever you do it is done based on legal console. 

Based on the opportunity value of cash and the risk posed by having dead equity at risk to a market shift.All equity in the property is now only earning a return equilivant to the prevailing mortgage interest rates.

Unfortunately, not all the advice you will see posted on this forum is based on the most current and accurate information. 

That might be the exemption based on distance there's few exemption for FHA loans

This year the property has increased in value and is now worth $95-100k based on other units in the same complex being sold.

View report*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.So does this look like a good deal?

I am an out of state (currently based in nyc) investor looking to create a portfolio of Buy & Hold Investment Properties in Charlotte, NC. 

If I were the buyer interested in this property as an investment, my max would be about $65k, based on the limited information that he has given here.

I would, however, reach out to your agent and find out what they based that $650 rent off of just to be sure that the tenant wasn't actually paying that and now she's trying to play you.