We will continue to observe the performance of this property and eventually will build a second house next to it.

If you’re nervous, dig into local investor clubs.. from what I’ve heard, even in London you’ll find groups meeting over coffee, talking shop, and sharing leads.

Shopping around, I also spoke with a second lender.

There are absolutely areas where you can beat a 10% cap rate - I see it all the time - you just need to know where to look and what types of properties perform best.Some areas I would check out include Bailey, Arvada, Westminster, unincorporated Adams County, and many more I could point you to beyond that.

Not that these aren't needed but you can shop around.

I can probably point to a 2-4 unit that performed better than a single family, and I can point to a my own single families that performed better than my duplex.  

Find an Insurance Broker that can shop the market.

For example if there is a Starbucks there, typically there can't be a competing coffee shop in the same plaza. 

Aim to rep seller but if they are unwilling to work with you, ask if they'd still be willing to allow you to shop the deal around to your buyers.

It was a pizza shop and now is a blank slate.