To add more weight to your case, dig deeper into local records.

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

I suspect it was two or more months on 1 bill in addition to what we pay for common areas.

Additionally, regarding the legal structure, an LLC seems to be the most suitable option for our situation.

If we sense there is a red flag, were asking them to upload additional documents like tax returns w2's etc.

Just be sure to clarify that she isn’t a leaseholder but is authorized to reside in the unit.If you’re concerned about liability or want more peace of mind, you could ask the primary applicant for additional security, such as a higher deposit, depending on what’s allowed under Colorado law. 

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

These are professionals with additional training and a stricter code of ethics.

Thanks for any additional input you have time to put forth.