.-- But the real nail in the coffin could come in the Colorado legislature which is considering reclassifying STRs as commercial property for property tax purposes.

I do like real estate but I am not sure $20K is enough to get started. 

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

How many real estate investor meetups have you gone to? 

Get ready for a month full of learning, networking, and real estate opportunities.

Everyone wants to get into real estate.

If you know you want to flip, you can go to meetups and see what agent newer flippers use to list or buy with.

@Christopher ReynoldsIt's exciting to see your enthusiasm for real estate and your vision for financial independence.

Quote from @Timothy Franklin: @Trevor FinnI would agree with your breakdown, but why overlook a potential to run the 91k subject-to with a targeted 6 month hold for flip or 18 month refinance?

But it seems to me that referral clubs only real value is vetting suppliers.