He collects cash down payment and finances the rest.

While Colorado's market can be challenging due to high prices, exploring suburbs like Colorado Springs or Pueblo, or even considering out-of-state markets in the Midwest or Southeast, can open up better cash flow opportunities.

Is this a Rehab deal or a cash flowing property?

I have enough liquid money for the down payment for the hard money lender, but that'll leave me with zero cash for closing costs, realtor fees, etc.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

Unless you have an immediate need for the cash I'd wait until I could pull out the extra $40k. 

Purchase price: $150,000 Cash invested: $60,000 Rented it for $2195.

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

So it can be good for cash flow and building in tighter spaces but it is less of a equity play in today's market if you're looking to sell right away

I am definitely conservative and plan to keep my job until the REI cash flow is proven for income.