Europe is not a good market for investing.

Sounds like you have a plan to consult with some brokers and expose it to the open market. 

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.

Seems like the new on line marketing methods  Section 8 is the new shinny object..

You could put most of your funds in the stock market and access them when needed for a HML.

I plan to manage the properties myself until it conflicts with my regular job.I would appreciate any advice on these markets to ensure success and connect with local investors.    

What I do not control is the natural level of rents in any given market at any given time. 

@Todd Anderson totally agree on finding a mentor in the market to learn from.

Good potential for appreciation/rent growth upside as well in the next 5-10 years in my opinion with the market still being one of the most affordable in the country.

The STR market here has become way more saturated and competitive especially in San Juan.