I supposed I'd just need to learn how to make the financing work and all.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Loan officer used income from first property to justify new loan.

Did you just use all your cash on a new acquisition?

But if you did the property up right with killer design and great amenities -- I'm picturing cool wallpaper, a game room, boho/modern furniture and a hot tub -- I can see a place here doing well as an affordable Airbnb/STR option just 10 minutes to downtown Denver.

@Beau Wollens A bit late to reply, but please tell me you bought this deal.

What made you interested in investing in this type of deal?

I am planning to build a portfolio dashboard for my properties in Excel, and I have a pretty good idea of what I want to see about them individually and combined. 

Did you look into renting to Section 8 tenants?  

Curious why any tax pro would argue with that.If filing state tax returns did not take any time or money, then there is no harm in filing them.