Communication will be huge when getting connected to a large asset.

He explained that as a fairly new investor, 5 years, that if he was in my position he would save the extra funds for his emergency fund or eventually use the accumulated extra money to buy his next investment.

It’s where and how accents are created  New Yorkers and Texans speaks much differently than a Californian If possibles, when communicating with a prospect try and Match their accent. 

Anything is fair game within that driving radius.

Since then there have been many changes to Colorado landlord/tenant laws and as a result, I bought a local attorney's lease (actually a fairly large law firm).

You'll need a trusted team on the ground, you'll need communication and transparency.

Fair, I can see how I was scatterbrained there.

HUD publishes the Median Fair Market Rent on their web site for the entire country.

Attend seminars or workshops.Build Your Team: Start networking and finding the right professionals to support you.Start Looking: Look for properties that fit your criteria and financial capabilities.Make an Offer: When you find the right property, make a fair offer and negotiate the terms.Close the Deal: Once you've reached an agreement, complete the necessary paperwork and close the deal.Manage Your Investment: Maintain the property, screen tenants, and review your finances regularly.Make sure you have your criteria down, then financing and property selection is Easy!

I would disagree with number 2 - in this environment, heavy rate buydowns are a common tool in the toolkit for lenders and borrowers to make deals work and are in no way indicative of "not being well-capitalized"That’s a fair point in regards to doing a buy down, we see that quite often but we roll the buy down into the loan so those aren’t paid at closing, thus not costing the borrower funds out of pocket at the time of purchase or refinance.