I have a 401k/457 sitting there as stagnant money in NYC.

It would need to say that if it foreclose then There would be no money coming to the tenant.It sounds like you would like to give the tenant more than money, but we both know that would make things worse. 

There are always private money lenders there and people who will partner up on a deal.

Co-living I like a bit more because you have less money needed for furnishing a property and CO laws allow it in the major cities unlike STRs.

Learning that I prefer money invested in real estate over money sitting in the bank... don't we all?!

But finding a virtual employee who you know knows what they’re doing, won’t “half-*** it”  and yet won’t run off with your money might be harder than it sounds.

Its much harder to turn a property around in 6 months expecting to have 100% of your money returned back to you - but if you focus on the right property focusing on highest and best use with an ADU add (like mentioned), in-fill/lot split, or other rehabs - then hopefully a semi-decent property like that will perform like a champ in a few years. 

hard money How did you add value to the deal?

Put a little more money into that one and keep it for a while.

Denver (and Colorado) is a destination for people with money.