Just curious what that market is like and if this is good idea for the area and what rates are like.

Feel free to take or leave my advice, but I think others will agree that, for now, you should focus on maximizing your savings rate, building your credit, paying off any owed debt, and house hack your first deal—just my two cents.

If you want to stay in your house, then your only option would be to leverage equity which will probably be in the 8-10% interest rate range.Not knowing the entire situation, I think you could consider downsizing and then using the proceeds to buy a 2-4 unit property and start making $40-75K right away with still no debt. 

Time for the economy to reset and interest rates to come down. 

In an accompanying video, I also pointed out that Utah had the highest population growth from new births (see the heatmap above, courtesy of Pew Research Center’s analysis of Census data).Metros along the Wasatch Front, such as Salt Lake City, UT; Provo, UT; and Ogden, UT continue to see strong job growth, low vacancy rates, and relatively high price appreciation.

If you are and that quote is at full RC then you have the best rate there is.

Class D always have higher Cap Rates than A and B.

Even after renting, you should check the market every month or so to keep an eye on prices, vacancy rates, etc.

They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

With $50k down and a 7% rate, the payment would be around $3300.In the Denver area, you can get $800-$1000/room.