There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

The hard money 10% plus additional thousands in closing costs was too much to swallow. 

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

Just be sure to clarify that she isn’t a leaseholder but is authorized to reside in the unit.If you’re concerned about liability or want more peace of mind, you could ask the primary applicant for additional security, such as a higher deposit, depending on what’s allowed under Colorado law. 

But this comes with pockets of C/D neighborhoods, and higher potential for headaches;  in addition, appreciation in these zips has probably maxed out for a while.

With the economy of scale in multifamily, each additional unit nets you a little more than the last, as a rule of thumb.

If things work out, we'd like to have at least 1 additional property before the end of the year and have 8 in 8 years.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

I should add it will be a short term rental property.