Thanks in advance!

I argue that more money in the hands of the rehabber makes the loan safer.

Why 4 units in 4 years?

This will get you 90% of the way there and should be sufficient.It works the same in a saturated area, it's just more to sort through.You are aware that STRs in Denver are allowed only in certain zones and you must live onsite?

Do you eat out for lunch every day, get coffee twice a day, have a new fancy car, and buy the latest trends?  

Quote from @Anthony Maffei: I purchased a two-family property in 2017 and now have around $500K in positive equity.

In those days it was possible to locate and tie up a “killer” deal, and close the transaction with absolutely zero of the investors own money.

If you live in the home for 2 out of the past 5 years and move out of state you may be exempt from the tax.  

Last year we helped eight buyers acquire exceptional coastal STR's in; Brookings, Gold Beach, Bandon, Manzanita, Arch Cape and Yachats, with two in 2025 under contract in Seaside and Rockaway Beach.

The 1st job Id expect 2 guys to finish it in one day, so 16-18 man hours...so I wouldnt say their time billing is drastically high, but a a moderate amount.