Go out to AirBNB and VRBO and check the area where you are looking.

I would like to interject, while data drives decisions, one of the first things I'm looking at is the location and surrounding area. 

Generally speaking, have any of you invested in this area and been successful?

You can also check meetup.com or search Facebook for real estate investment groups, clubs, or meetings in your area.

Most any major metro area is going to have good demand for medium-term rentals.

With $50k down and a 7% rate, the payment would be around $3300.In the Denver area, you can get $800-$1000/room.

- Renting it Out: The likely rent I'd get in this area will cover half my mortgage payments at the moment- Add Square Footage: Taxes will likely go up significantly- Build an ADU: Overall ROI will likely not offset much since it'll still be counted as value tied to the one house- Selling Off Land: Sits on .5 acre that I might be able to sell.

You won't FIND a deal in this area but you will meet people doing deals and someone might be willing to be involved in a deal with you if you go through points 1 and 2 first.

It is my one regret in life that I quit as I missed a huge opportunity where beautiful property was selling for $30-$40K in my area.

Sometimes I have even directed troubled tenants towards assistance programs (such as single moms because there are a lot of programs for them specifically in my area especially).