However, $5,500 is a lot of money for rent each month, even for a "compound" like we could have offered here to the right ground of tenants.  

We had seen something suspicious on our initial walk-around.In-ground septic failed a hydro/pressure test.

I would first research particular markets then after narrowing down what your looking for start meeting "boots on the ground" teams and see what it is they have to offer.Good luck to you.

So we are considering investing in northern CO, although that market looks a bit pricey right now.I’m still in the “education” phase, trying to learn as much as possible.

I like to re-phase the question by asking was is your risk tolerance.

I think its important to level the playing ground.  

Think about your life and the types of structures you've lived in during each phase (high school, college, first job, 30s, etc.)?

Perhaps I can be your eyes on the ground.

This step ensures that the title work has been done and both the borrower and you have clean title.6) Recording of the deed.If the funds are being loaned for construction, I would lend the money in draws, upon completion of phases.

Thanks for that great fresh ground smell reminder and more importantly, how important to being successful, waking the sun up and not the other way around.