I can pay it back that doesn’t worry me. just getting a loan without income is the kicker! 

@Randall Ayers  It doesn't matter where the lender is located, as long as they can offer that type of loan in Colorado.

Louisiana is also a very landlord friendly state and that doesn't hurt either.I have been looking at the rental data in New Orleans lately and it seems like there may be a surplus of rentals available, most likely due to the STR rules causing people to switch to regular long-term rentals.

Asset protection doesn’t work, any entity veil can be pierced, you’re fooling yourself if you think you’re protected.  

I figure my options are to sell and take a loss (not ideal), or preferably find coverage that allows or doesn't care about the K&T.

That doesn't happen when they have a fist-sized hole in their chest or head.

that doesn't mean they're not a good investment, just that you should set your expectations accordingly.

A prudent investor doesn't seek quick riches through shortcuts.

Doesn't matter if they have 3 kids or not, if they are late on rent, file notice and if they don't pay...start the eviction.Stick to the facts when you go in front of the judge and you should be fine. 

To get any cashflow I think I need to be looking for something around $250K, that doesn't need a lot of up front rehab, to give me enough extra for closing and reserves, and in a submarket that will gross 3000/m.