You aren't touching anything on the Roaring Fork for almost any price, no matter the square footage.Location is king, because location equals desirability, and desirability translates into more rental demand, and in some cases, substantially more.  

There are a lot of people that are wanting to owner occupy, which has driven greater demand for these properties. 

People want to live here, demand will remain high, and appreciation is how you build wealth (not cashflow.) 

There's nothing that prompts inaction like uncertainty (in fact, hinting at demanding a stable 11 cap, one might argue, is a form of effective inaction, since we know how hard that is to find). - Substitute goods.

In my experience that either means there is something prohibitive in the zoning, or there simply is not much demand for that sort of product if most people either go with an apartment in a large complex or rent a SFR.

@John Sherwood The areas you mentioned are certainly high-demand areas, but they come with challenges.

The property is in a rural area, so I'm trying to project how much demand there is. 

This does not mean actively acquiring but rather considering valuation, market demand and rents, and potential ROI. 

Given your buy box, keep an eye out for properties with strong rental demand and minimal major repairs.

When Helene/Milton hit we had local displacements and I suspended any rising rates (rising naturally due to spike to demand).