What you’re also going to want to take in to account (and I’m not sure these fit into an excel sheet) is the benefit to buying owner-occupied-from loan flexibility and down payments to reduced living expenses and ease of self-management.

Any rent control from government or all free market?

Acceptance of rent from someone constitutes a legally binding, oral lease agreement.

@Mark Shelstad I have an excellent roofing/siding contractor I can refer your way. 

Now I am personally not a big proponent of smoking the thing because I feel it takes the edge you need to excel and it surrounds you with lazy people.

I'm admittedly biased, but Colorado Springs is an excellent market for real estate investing.

Should I just always assume I'm going to need new floors throughout, new cabinets, countertops, appliances, most or all of the light fixtures replaced, new paint in and out.

I have been using a ridiculously elaborate Excel spreadsheet for years, but feel a light version of a program might be better.

It is an excellent FIVE BEDROOM/ 2.5 Bath home also located in the Grassfield High School district, which was voted as one of the TOP 500 High Schools in the United States! 

@Joey Isidore I think @J Scott raised an excellent point.