For my personal goals and purpose of this example I'm looking for long term buy and hold using conventional financing with 20% down at 5% interest assuming closing costs at 5% the house and looking for a minimum of 10% COC return.

This suggests to me that the condos are actively being sold but significant inventory remains. 

I am in the process of closing on a primary residence through conventional financing.I have a unsecured line of credit, that i occasionally move money into my main checking account, when I pay contractors for work on rentals etc. 

I will have a conventional loan on the property  and will be on paper used as a second residence.

You can cash out 75% of appraisal value after 6 month under conventional loan.

@Ashley Lynn  If I were in your situation, I would max out on a HELOC on your current home if you have a conventional loan on it, or refinance out if you have an FHA loan on it. 

I came up with that range of percentages based on what an actual loan would be (conventional all the way to hard money), or the fact that it seems the going rate for property management is about 10%?

Once I meet the one year requirement to be able to rent it out and move to my next FHA purchase, I understand the first home needs to be refinanced to a conventional loan to make that happen.

@Chrissy Arnold  EXACTLY  lots of Hat and NO cattle in this business.. that would be the first thing I would want to know what is there capacity to transact.. if they are trying to get you on the come ( the OP)  and drown you in futures.along with majority of their revenue has to be from making what in essence is real estate broker fees  IE wholesaling.Denver it is quite tight for inventory.. you would probably be better served to get a license and work for an established top producer on their team.. were you really get paid... now if this is a big well capitalized group and you know for sure they have many millions in cash and credit ready to rock then that's another thing.. but your position should be a paid for position if they have the wherewhithal to do this they should be able to easily afford you on salary and small bonus..  

I would certainly be interested in looking at your foreclosure inventory.   1.