Two hours later, I received a text message from tenant stating that he hired someone, paid $430 already and they are coming before 6pm. 

This is because they didn’t understand that the paperwork they signed, but didn’t read stated that there was the very real possibility of losing their entire investment.

With you being an out of state investor, I assume based off your Denver location, it is vital that your property manager does their due diligence beyond just getting a rental verification.

A replica of what I stated above, two great minds think alike.

And although the expenses you stated feel like they're doable, these are only the expenses that you are currently aware of.

Here’s how it breaks down:- Normal Depreciation Recapture: Recapture is taxed at a maximum rate of 25%, regardless of REPS status, plus any applicable state tax.

This program option varies depending on the state.

I have had several Colorado LLCs (single member LLCS with one single family residential rental per LLC, so very small-time) for a decade, and always file my periodic report so am in good standing with the Colorado Secretary of State, but have only just heard that I need to file a BOI report before the end of the year.

This issue may be moot in some places as some states are making wholesaling a licensed activity so that ONLY agents/brokers will be allowed to do it. 6.

I'd love to connect with you about what I've got coming up in Washington State.