I read a report today that indicated Pueblo had experienced a huge increase in market strength and was predicted to continue into 2017.  

We only have to wait to close until rehab is complete or 30 days has passed on title.Our strengths are for buy and hold, 30 year term, aggressive rates, speed of closing(20 business days), only 30 days seasoning on title, no sourcing or seasoning on funds for closing, 75% LTV on purchase or refi, close under personal or business for title, and blanket loans for 3-9 properties per loan (helps clean up borrowers bureau as we do not report to credit/ raises LTV, consolidates payments).

Different brokerages have different strengths.  

I know a couple of good agents each with different strengths depending on the type of property you are insuring.

Hello all,I am a young professional living in Houston.I have always been interested in investing in Real Estate but never had the strength to start.

The governing documents could be a make or break it deal, despite allowing rentals I know of townhomes in Lakeville that charge move-in move out fees that are astronomical.To pay the association $250 because you got a new tenant moving in doesn't seem like that big of a deal, but to pay another $250 for them to move out and another $250 for someone else to move in could really start to cut into the passive income you seek.In addition to the governing documents it would be in your best interest to ask a few neighbors within the community what their overall satisfaction is with the board and the association management company since your not going to live there this tone could be a positive or negative for REI.But out of everything I've said the most important aspect of considering purchasing within a Townhouse association is to determine The strength of the financials.

This has more expanding strength which you can't use to retro fit with drywall up.

This is a lengthy response, but you asked for specifics and you have an existing friendship and are looking for a partnership where you each bring very different strengths to the table...

Ask the former owners what the strengths and weakness of the manager are – do you agree with them based on your vision?

Your credit strength, and financial strength will decide if a refinance will be more burdensome for you.