@Mark Willson Welcome to Denver! You will appreciate the winters here much more since we get 300+ days of sunshine. Unfortunately, BRRRRR is not a strategy that is most effective here, at least not in Denver. The median price for detached single family houses is $460k as of December 2020, so it is definitely very expensive to get into Denver, and that's the median house!
Also, you usually want to find a good deal where you can add 20% value, so basically over 80k at least, and that is very hard to do in this market when inventory is so low and demand is high. It isn't impossible, and some investors can do it, but they spend tens of thousands of dollars every month to market for off market deals and even then, it isn't that easy for them, and they have huge lines of credits available and deep pockets.
BRRRR is a great strategy for lower priced markets that sell houses in the 50-125k range since adding 10k-25k is much for realistic.
The best strategy for Denver is house hacking using the rent by room strategy by buying a large single family house living in the small room and renting out the other rooms. Other strategies that work well here are buying a house with a basement apartment and live upstairs, and Airbnbing the basement. Also, some people buy a house with a basement apartment and rent to travel nurses or normal tenants as well. Lots of strategies still work, you just need to find the right property.
Personally, I've house hacked four times in the Denver metro market, using the rent by room strategy, multifamily, Airbnb and normal rentals, and it has moved my financial freedom number much closer. Since you are coming from university, you probably have roommates right now, and if you have a great W2 job coming out, I would seriously consider house hacking and the rent by room strategy because you only have to house hack a few times to achieve a solid FI number to choose your passions.
