A mid term rental approach, as @Olivia Radziszewski suggested, may attract a higher quality "roommate", like a nurse, project manager, or armed forces personnel,  etc.

We are originally from Colorado and love it there as well, my wife is a travel nurse so we get to move to cool places a lot for short stints of time and I work from home and own my own marketing/advertising/design company.Goals: My goal with investing is to practice the brrrr strategy as well as fix and flip.

I live in Anderson, Indiana and I currently am working full time as a Nurse Practitioner and paramedic.

The seller is in a nursing home and the property has been vacant for 2 years.

[b]Refinance MultifamilyMultifamily - Refinance[/b]85% Loan-to-Value (80% with cash out)35 Year Amortization35 Year Term (no balloon)No maximum loan amountLow, fixed interest rate, based on market spreadsover the Ten-Year Treasury Yield.No personal liability (non-recourse)Negotiable pre-payment terms1:18 Minimum Debt Service CoverageThis loan is always ASSUMABLE[b]RefinanceAssisted Living/Skilled Nursing[/b]85% Loan-to-value, no cash out35 Year amortization35 Year Term (no balloon)No maximum loan amountLow, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield.No personal liability (non-recourse)Negotiable pre-payment terms1:18 Minimum Debt Service CoverageThis loan is always ASSUMABLERates and Terms determined by LTV, credit, property type and other conditions.

The hospital expansion is going to bring in a ton of new doctors, nurses, and workers and a few developers are going to cash in on this.West side of the river, good cash flow opps as you still get student renters and families who work in NYC, Albany, and Poughkeepsie.  

I'm an Army/Afghanistan combat-wounded veteran who doesn't let the label from the VA define me or my actions.I was a Nurse for a decade.I abused drugs/needles/affairs for 4 years.

It's totally possible the borrowers were making timely (tiny) payments until they died and/or went to nursing homes.  

The current owner is in a nursing home and has given POA to her neice (lives in different state).

I am a nurse by trade but am looking to learn anything and everything about real estate investing.