My wife and I are tied to this area due to being in proximity to family and we currently enjoy a farming/hobby farm lifestyle that is a big part of our family culture.

They're currently renting in Denver under only the guy's name but since the girlfriend is pregnant, they need to move to a bigger place.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

Currently being leased, but expect my total cash on cash return to be above the number I target.

Jerryll,I'm having some SEO done to my site currently.

I am currently working on starting a youtube channel that will teach what I have learned in becoming a builder, along with following some of my builds start to finish.  

It can make leasing a bit harder since you will have more vacancy when those come do but it will all be in peak season.With respect to the hiring decision, you would need to hire someone to replace you (perform the same functions you currently perform) so that you continue to work up the ladder (spending more time on higher value tasks).  

They currently have over 10 under construction in the Los Angeles area.   

I'd also be interested know if our current contracts are reasonably priced or if we're being overcharged. 

Hence the idea of a couple more properties, however, with much more units than I currently have per building.