Looking to Move to Denver-considering options for how to do it...

[Mark Singleton]

Hello! My wife and I are looking to move to Denver in the next couple of years. Being motivated by Brandon Turner moving to Hawaii, we want to live somewhere beautiful with mountains. We'd live there for 1-2 years and then move back to our hometown but want to keep a place in Colorado. We own a couple long term rentals in our hometown. I know RE in Denver is really high. Our biggest question marks are financing. Here are options we are weighing with how to do it:

1. Buying a home with an FHA loan (3.5% down). And then after 1-2 years, moving out and renting it as an airbnb. I don't know if this can work. That's why I'm asking.

2. Buying a property with a couple units on it that we can rent out to offset the mortgage. And then renting our unit out after we leave CO. 

3. Renting a place. We don't want to do this not only because we enjoy owning but we'd like to buy in a more expensive market like CO so we can get some of that appreciation. 

4. Buying a regular home in a low income community with a conventional mortgage and trying to turn it into a short term rental after we leave. 

I need some help from some Colorado people. I'm from KY and have no idea how I can do this. 

[James Carlson]

Quote from @Mark Singleton:

Hello! My wife and I are looking to move to Denver in the next couple of years. Being motivated by Brandon Tu.... 

A premature welcome to Denver. Come on in. The water's warm. Close to the mountains, 300 days of sun, good culture, and a great food scene.

Just commenting on one aspect of your post. You mentioned a few times wanting to be able to Airbnb your Denver home after you move out. Be aware that the actual city of Denver doesn't allow you to operate a short term rental unless it's your primary residence. So if you want to STR your place after departing, you'll need to look in one of the few Denver-area cities that allow for non-owner occupied short-term rentals. Arvada allows for it. So does Wheat Ridge. As does Centennial and soon Adams County.

You can also live in a smaller place in Denver, maybe even a condo, and then turn that into a furnished medium-term rental after you leave. Any rental 30-day plus is considered a long-term rental in the eyes of the city and not subject to its Airbnb rules.

I wish you luck.