We're definitely a little wary of a no inspection contingency, since we're new to the business and probably "don't know what we don't know" in terms of predicting what we might find during inspection and the cost to address them.

I'd try to take the time to understand what this property would look like if the numbers come in at a worst case scenario, or at least a worse scenario than what you predict, and see if you are still comfortable with it.  

My prediction is Colorado will see rent control in the next 5 years.

If there is a larger impact than I predict, then it’s like any of the other regulations here, where there will be winners and losers.

All hard to predict.

My agent, predictably, pushed back saying this isn’t market standard.

Mortgage paydown, is predictable, BUT you have all the same issues as appreciation because the value is locked up in your equity until you sell or refi.

Many investors with full time jobs and busy lives find they make more predictable cash flow and build more wealth investing passively.

Metrics like ROI and cash flow only predict how a property is likely to perform on day one under ideal conditions.

If the markets perform as predicted, the initial poor cash flow market will benefit from higher increasing rents and eventually have better cash flow than the market that had the initial better cash flow, but was expected to have less rent appreciation.In your local market it is easier to build and maintain your team, you have local first hand RE market knowledge, and you can more easily perform heroics if it is ever necessary.I recommend you take a second and third look at your local market.