The reason I look these two places because they are good locations/good school where rental demands are high. 

The location (schools, restaurants, crime, etc) is decent but nothing too promising in terms of appreciation (3% annual average) Here are the details: Purchase price: $170,000Rental Estimate per month: $1500-$1550HOA: $1000/yrInsurance: $1100/yrTax rate: ~3.4%I assumed the following:I use a 20% downpayment on a 30 year fixed conventional loan w/ 4% APRNew build so warranty is covering most things so minor, if any, maintenance will be neededTake into account 1 month of vacancy per yearTake into account annual broker fee to list of one months rent~5K closing costs~2k in appliance purchasesResult: Assuming rent range of $1500-$1550/month and assuming 1 year I wont have to pay the broker fee to list:From my cash flow analysis I am projecting to have positive cash flow of around .02%-2.1% per year.

Pros- It has good schools, is very stable and has a low crime rate.

@Harjeet Bhatti by finishing your studies do you mean that I should go to college after high school, or just finish high school and not go to college?

I am a 25 year old South Denver native and have worked as a carpenter for my fathers residential remodeling company on and off for the last 10 years (throughout High School and College), since graduating college I have become increasingly interested in the business side of residential homes and have therefore been a licensed Realtor for 18 months now.

very important, i have student rentals next to a college, the college expanded and added dorms, all was good for 2 years after, then enrollment went down. the college changed it's policy and instead of just Freshman being required to stay at dorms they made it so that Freshman and Sophomores had to stay in dorms, took a big hit on the town rental. you need to figure that Sophomore year is a big year for student rentals, kids start to drop out after that year, so those would be your biggest rental.

We have 750+ credit scores, decent liquidity for a down payment (we can put 25-30% down), we have modest but stable income, but we have tremendous student loan debt from law school and medical school.

There would have to be some major reason (e.g. the unit is twice as big, it is in a better school district for your child, etc.).My recommendation would be to stick with conventional investment loans, 25% down, 30 yr fixed.

Similar to @Rick Thomas, I also used Colorado Real Estate School (http://www.creschool.com).

We now owe 105k on the house, but we aren't set on staying there long term (don't like the back yard, long commute, less than ideal school zone).