(It is worth noting, I am not a lawyer so cannot advise you.)1) This option would minimize paperwork and provide good protection.  

Lastly as an illegal unit it is  huge liability if there was a trip and fall claim, fire etc your insurance may not cover.I recommend renters insurance for whoever lives there is mandatory to add another layer of protection. last option not considered is you living in the bonus unit to have a free place to live with minimal risk 

This will be the lowest barrier of entry into investing, as well as help minimize your living expenses.We are located in the Denver Metro as well, so if you do want to chat and explore options or just start planning feel free to reach out!

Established flippers have the resources and networks to build close relationships with contractors, making it relatively easy to coordinate compliance at minimal cost.

I will definitely be looking into multifamilies in a very near future as of right now I’m trying to build a portfolio by buying cheap single-family homes with minimal renovations. 

The "art" part of it comes at minimizing turnover & vacancy while increasing revenue.

After we paid him our nextinstallment of $45K, he basically disappeared in July and after reaching out tohim and his wife who also works with him, we've gotten minimal contactback/excuses/delays of when the final work is going to be done.

You are obligated to make a good faith effort to find a replacement tenant and minimize the damages to your departing tenant.

Any advice on how to minimize in-person showings or how to change our process? 

However, some investors embrace this strategy, especially if they want to minimize their upfront capital and plan to refinance within a few years—particularly with ongoing discussions about the Federal Reserve potentially lowering interest rates into 2025.