A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion. 

There is a lot of new things about to break ground.

I’ve been investing in Colorado since 2021 and have worked with a lot of first-time investors looking at SFH and STR opportunities.

Start with a contractor that has a lot of 5 star reviews.You can join some facebook groups and network with investors in your area.

It's not impossible but certainly a huge undertaking with a lot of pressure on a first time househacker. 

If you are new, be sure you can raise the funds before proceeding.In my opinion, you are going to have a hard time raising money with a 6% pref and 70% of the profits after that unless you have a lot of newbie investors in your Rolodex. 

I've done a lot of wraps and subtos and highly prefer the seller-finance strategy for a lot of reasons, including offering the opportunity of homeownership to those otherwise rejected by traditional banks.

I need to redo the roof of the house lift up the second floor, the entire front deck of the house, demolish the old stucco, And replaced a lot of rotten wood and messed up beams.does anyone have any recommendations? 

This does pose a challenge since that real estate is a lot more expensive than if you go more west and south.

I have two options 6.625% 30 year or 6.15% 15 yearI want to invest aggressively in the near future on more propertiesThe loan is only $110k and the monthly payment for 15 year is $563 and $750I will earn 2-3k a month in gross rental revenueThe property is in a declining population areaRecently rennovated, and all major things were relatively recently improved such as plumbing, the roof, a/c, electric, etc.Will require a lot of management as it is rent by the room so I may switch to a normal rental after 10 yearsI'm trying to find what will mathematically net me the most money in the long run.