It seems that your association property manager is lacking.Normally what a CAM (community association manager) does (and there is some variety to di depending on the agreed role) is run the day to day affairs for the board while the board makes decision on reserves and budgets, choosing a vendor after getting several bids, etc... 

No question a sub 2 failure opens a big can of worms and can lead to all sorts of issues of the legal variety.. you start missing payments and your sellers credit gets trashed you are going to have issues. 

Most areas of Denver will attract a variety of tenants and you may think you'll get a family, but you could get a young professional without kids.

There are a variety of formulas you can use, but to me, here's the bottom line from a legal perspective: as long as the utility cost sharing provision is not unconscionable, and the tenants agreed to it, they are responsible to pay their share of utility bills. 

2) How important is it to have a variety of colors throughout the home?

I would look for states that are landlord-friendly and cities with a wide variety of employment sectors, growing cities/states as well.

Many of the North Dallas HOAs have a variety of restrictions - percentage of total homes, the owner has to live in it 1 yr or 2 years.

Please don't take anything on this post personally :) I think there are a lot of opinions on this page and it's good to hear a variety of views - regardless of how strong one's views are.I think we're all learning a lot here and that's what matters.

Provide a signed copy of the NoteThe investor should be identified as follows:For all investments: Client First Name Last Name>, legal owner via non-trust custodial IRA with AETBe sure to indicate % of ownership on title for multiple investorsSigning of documents:On a go-forward basis we will no longer sign documents.Due to the titling change, the account holder will be the only one that can sign the documents (with the new vesting)Excluded States:Because of a variety of issues we have encountered with the following locations we will no longer accept IRA investing real estate transactions in the following areas: The State of Maryland, The State of South Carolina, The State of New York, Cook County, Chicago, Illinois, The State of Georgia, The State of Florida.

We offer both from a variety of outlets(and on investment properties which is rare), here's some examples of how recent clients have used a CES/HELOC for both long and short term purposes.That all said, for your purposes I'd want to dive deeper into your plans to repay before advising one way or another.