If the police reports are correct, they can take that up with the credit agency.

So sometimes when these type of opportunities come up life changing as it relates to work you just have to jump on it.

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.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

I was looking at an attractive rental but it looks like the land value is 75+% of the value, so I would be paying a ton get very little tax benefit. 

The depreciation on the cost seg will bit you pretty good.

A couple of follow up questions. 1) After the 1031 exchange, and then after the follow on 721 contribution, I own an interest in a partnership held by the UPREIT.

Quote from @Abigail Joanna: Do the math.

You may want to look up Stacy Patel with Golden Handshake Capital.

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in.