Tips for a first invest prop in co?

[Eric W.]

I live in TX but have family in the area so am up in co a lot. I’m thinking about making my first investment property in Colorado. I wanted to see if anyone could provide me with any tips or advice for an initial investment property. 

I’m working with about 100-125k should I try to find something smaller and simple and stay as close to possible as that as I can ie higher down payment? 

Or should I find something a little more pricey but in a more desirable neighborhood? 

Or Should I wait a few months before even looking and let the market keep cooling? 

What are some things that you believe a first time investor should know or do when selecting a property in Colorado?

thanks!