Finding cash flow in the Denver market with long term rentals?

[James Humphrey]

Hi everyone, 

I am brand new to the BP forum. I currently own one STR in the mountains outside of Denver and am looking to purchase additional investment properties. I would like to purchase long-term rentals (ideally in the Denver metro where I live) but am not sure what, if any, cash flow I could achieve.

I am looking to hear the prospectives of experiences Denver investors on what realistic cash flow goal is achievable in Denver in 2024 with a long term rental? I have roughly $600K in capitol to invest. I'd like to stay in Denver if possible because it seems like the appreciation in the Denver market is going to keep going up but if good cash flow is not achievable then I may need to look else where. 

Any other guidance or advice on strategy in the Denver market is appreciated!

Thanks,