Quote from @Michell Chase: The signed contract states a deposit was collected, so I would make that part of your purchase agreement.

PM's will keep all late fees, they hold the security deposits so they collect all the interest on security deposits. 

But I know there’s so much to learn from the collective wisdom of this community.Let’s share some insights:What’s been your most successful recent deal, and why?

What if they have collections or judgments?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

And what if the one person you didn't check has a criminal background, has collections, and more?

We also have a nextgen in our primary home that we rent and collect all rents for that to the same account as the rental.

Is there anyone in the Denver area that knows the early stages for subdividing land or what professionals I should turn to in order to start collecting some basic info?

I agree with you on not being able to collect on judgements.

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.