Focus on renovations that prioritize safety, functionality, and compliance with building codes.

I found something I am interested in and the numbers look good all around but my main concern is safety as the southern part of Bloomfield does not seem to have the most stellar reputation.

it was vicious.what I liked coming out of this was so many that were bought with cash those folks don't lose houses.. and if someone is buying in this model I personally feel they need at least 10 to 15k in reserves on a hand to sustain a bad tenant run. the negative cash flow folks were CA  NV  AZ FLA  ..

Then, I searched for new or almost new gated Townhomes and finally paid Cash for a 1500 3/1 with garage and pool, in a 17 unit community with low HOA in Valrico on the North side of Hwy 60 for peace and quiet and safety while I travel.

CO landlords can still evict for all of the common grounds for eviction: nonpayment of rent, violation of lease terms, damage to property, disturbing the peace, health and safety violations, illegal activities etc. and can also still evict if they plan to conduct repairs or renovations, property demo or conversion, move in to the unit themselves or have a family member move in, withdraw the property from the rental market, or if the tenant refuses to sign a new lease with reasonable terms. 

Sometimes a non-conforming space also helps with the numbers if you can find one that has egress and safety standards met.

As soon a the "we found mold" card gets played, you immediately offer them to vacate with no penalty to insure their safety. 

If the original poster wants to increase equity and create safety (and keep the little woman happy) financially, then maintaining leverage (mortgages) is not necessary if title fraud is a major concern; put the paid-off properties into land trusts. 

I also really like that this is a U-shaped window unit which wraps over the window sill, meaning that you get to keep nearly all of your window's view and natural light, as well as it being theoretically harder for someone to break into the apartment by kicking in/pulling out the AC unit (ours is on the second floor, but the safety concerns for first floor units is definitely a consideration you'll want to factor in).Heating.  

Some of the top rated schools, downtowns, neighborhood, and safety ratings in the North East.