Most nearby cities are the same.Even in the Denver-adjacent cities that do allow non-owner occupied STRs, they vary widely -- some have caps on STRs, some cap the nights rentable as an STR, some cap the number of vacation rentals one owner can have, etc. etc.This is all to say, first know where you can do Airbnb, then start running numbers.

Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure. 

So you are fighting an uphill battle. 

An example would be a $100k house that rents for $2k/mo.

Quote from @Jason Wray: Yes, you can use an FHA 203K program or even convert it to Fannie mae and use a renovation loan if the LTC/ARV allows.Cool thanks for the info!  

My Expensive Lesson)My first rental with REI Nation turned into an absolute money pit.

When an appraiser is adjusting a comp to match the subject property, he or she will use an adjustment based on the difference in square footage.

its an insurance issue. not much else to do.. 

If you don't fall within that category a knowledgeable local real estate agent can be an excellent resource.

What are the other important parts of having an investment property?