New to REI - anyone had success recently with a BRRRR in the downtown Denver area?

[Evan Krepps]

I'm new to REI and considering purchasing a live-in BRRRR in the Denver area: ideally in the area West of Colorado and North of City Park.

(1) Has anyone had success in the last couple years with this strategy and area? If so, what did you look for? It seems to me that rents have not quite caught up to home prices so I probably wouldn't be able to cash flow until I've lived in the property myself for a couple years. 

(2) I'm also debating how big of a project to take on for my first time. I've reno'ed our current townhome myself but don't have experience yet in scoping a true rehab (and I see plenty of properties in this area of Denver that could benefit from a solid rehab). If you've had success, how big of a project (in terms of rehab costs) did you have to take on to make the numbers work?