Not sure about CO, but we make tenants sign a NON-Refundable Holding Fee (not Deposit) Agreement for any monies received prior to move-in to HOLD the home for them.

myself I think its excellent far better than going out of country or some smaller city that you need multiple flights to get to.. 

Hi Rick, welcome to BiggerPockets! 

CT isn't cheap so if you plan on doing it there you are going to surprised at how poorly you do. maybe in the suburbs I'm not sure but as much as I know people call us from CT and everyone is rich and has lots of money and things are expensive out there. build to rent is a great model. we build 3 story walk up infill and keep it to the residential side. 3 units is the most units before it's commercial and you need engineering, etc. check comparable and things liek that. we came up with this design a year ago and we sold 10 if you want to talk further please DM me happy to connect. there are some great build to rent conferences. we went vertical not horizontal with it to save on build costs and design to fit on any infill lot. this fits on a 3500 square foot lot. most lots in our area are 30x120 or 30x150. in miami where I live now they are 50x100 or so. but any infill lot we can pretty much get this one on. there are some great build to rent conferences coming up too that if you like this topic I'd recommend attending I'm sure you'd learn a lot.  

Quote from @Keilon Morton: I am looking to secure my first tax sale and need another investor to go in on the deal.

I received the tenant's contact information from the PM and found a plumber who was willing to go the same day.

I'd be happy to get corrected.

I am a firm believer in going after the things that interest you. 

Welcome to BiggerPockets, Richard! 

Hello Derick, If you have not already done this, I suggest the Build Your Investing Team> menu/link at the top left of the page on Bigger Pockets and go through the process of building a team.