Columbus in particular has been a strong market for both approaches, with solid fundamentals for long-term appreciation and cash flow.

They moved in and within 24 hours sent the following letter (names have been changed): "Hi Dawn and Brian,Sindy and I are frustrated, disappointed, and really struggling with the idea of moving forward with the move into your home.We realize this is the first time you have rented a property to someone, and may not be aware of the responsibilities that landlords have, and want to inform you that there are habitability issues with the home that are quite literally against the law, pursuant to Colorado’s Warranty of Habitability Law, CRS §§ 38-12-501 et seq.

@Michael Dumler, Thanks for the response.

They do respond within 24 hours but most of the time, the response is in regards to them working on your request.

If passive income is key, renting the condo or reinvesting in a property portfolio could be solid options.

Responses like this are good for me because I am pretty uneducated on things like specific loans or qualifying requirements.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

When you have multiple responsible adults sharing a house, if one "bad egg" slips in then you have the others renters to kick them out or report them.

"Phase I included 388 responses with over 1,200 comments and suggestions while Phase II included 141 responses and several hundred more comments and suggestions.

As usual in most responses in this forum you are getting conflicting information.