@Zach Howard the winter months are also the worst time to sell a property!

If I were in your shoes, I’d focus on house hacking in Phoenix by exploring multi-family properties or using the BRRRR strategy with undervalued single-family homes.

What about property tax prorations. 

@John Paul Palace their bggest challenge is finding competent PMCs to recommend to their clients.That's what most of the negative feedback here on BP is about them - which is UNFAIR as they're selling a rental property, NOT PMC services.Recommend you do your own due diligence on PMCs before just going with their recommendation.

@Daniel GrantzRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I'm an investor/realtor here in Denver and with the cash you have, it would be hard to buy an investment property in Colorado Springs. 

Quote from @Krista Lance: @Kevin Sobilo @Thomas Talbert Sorry - I should have specified more, I have a property manager for these properties, and they track all of the accounting, etc.

And they essentially buy the property and then in 5 years, you refi and give them the down payment back.

Make sure your website or social media clearly says you buy investment properties.

Building a strong team (agent, contractor, lender, property manager) is key—seek referrals from experienced investors.