Consider a live in flip, we used to use terms like sweat equity to describe this tactic.Couple of lender ideas Get a co-signerTalk to local or regional banks, you will need "portfolio" lender.Get a bridge loan from hard money or private money until you quality for conventional financing.Financing will be tough. 

Hire a PM co, 

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd househack, you can use conventional and the rules that I mentioned above will not be a concern.

For the past 4 years I have been in Colorado working a corporate job.

Co-host before you do arbitrage.

I think you could do the same with a co-host.

We found a tenant that stayed a year and then moved to Colorado.

My wife & I are in a small mountain town here in Colorado.

I'm consider buying a property in South Denver to use as a MTR but am struggling to determine the appropriate monthly income in my underwriting.

For my first-time buyers in Colorado, house-hacking is the quickest way to scale.