New to Denver Looking to Buy Investment Property

[Mark M.]

I just moved from Phoenix to Denver (Parker area) and looking to buy a SFH or condo rental property. I bought a home in Phoenix 2 years ago which I lived in and rented out the extra rooms to college kids, it turned out well and I made good money on the sell. When I moved up here I was a little taken back by how much more housing seems. I'm having a hard time finding anything that would qualify for the 1% rule. However, I haven't looked much at distressed properties because I'm use to Phoenix where distressed/auction properties were always bought with cash by the big investors, small peas like me couldn't compete. Is it the same way up here? I did make some good money on my house down in Phoenix when I sold it but still probably not enough to buy anything decent here with cash. Any advice?

Thanks, 

Mark