Tenant stopped paying rent before 2 months of the lease expiring, property manager filed for eviction process but tenant vacated the property before sheriff served the notice.

It served us well, along with the other detailed information they could provide, to make an informed decision. 

Given today’s interest rates, a highly-leveraged arrangement (where you’re putting 3% or 5% down) probably isn’t going to generate any cash flow, so unless you’re comfortable with injecting money into the deal every month, I’d recommend accumulating more cash before you start investing.Generally speaking, a good place to begin is when you have enough for a 20% down payment, closing costs, and 3 to 6 months of reserves.

Most of those served there are looking for unfurnished LTR. 

Many of my clients begin there, then transition to direct bookings once they’re comfortable.

This will impact your costs and time commitment.Risk Tolerance: How much risk are you comfortable with?

Understand the difference between the two, how they are compensated, and how they serve you during the due diligence process. 

It's very unique and I think would be attractive to guests looking for a comfortable get away in the mountains. 

Jaron Walling said something that caught my attention, "search for and buy a bad roof, leverage it during the negotiation"....especially of the property has been sitting on the market longer than normal for the current market, a "bad roof" might be a gift from the real estate genie.My point is this: get good at estimating and fixing a bad roof (or any particular problem found with most houses that sit on the market longer) and you'll get comfortable buying/fixing properties that scare off other buyers. 

I have around 20-30k that I can let go of semi-comfortably and that can be enough in the small market.