Denver seems like a terrible place to start. That market has been sky-rocketing for years and I think it's starting to cool off, which is a bad time to jump in.
I would look at smaller markets within 30 minutes of a major market that is still on the upswing.
@Joe Moffett I'd say OKC all day for buy and hold, but multifamily is tough to come by. I've had my hands in around 200 deals this year, but only around 10 were multi. That said, they're here but you have to move fast!
@Joe Moffett Like much of the prior posts mentioned...If you are going to invest in areas outside of your backyard, its important that you have boots on the ground that are experienced in that market. Most likely you lender is going to require that as well if agency lending is part of your capital stack