@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I'm not sure what you've heard or are expecting, but as with anything in life you generally get out of it what you put into it. 

Have been tracking the news on insurance which surprisingly to me- is not expected to rise in Colorado, post the LA fires.

If you expect further growth, holding onto the property could still make sense.Final ThoughtsSelling isn’t a bad option, but you’re giving up an incredible financing advantage.

I think it's about the best time there is to outside of the past to invest and acquire properties.I just recently found an article by Julie Taylor from realtor.com that was posted December 10th that has some predictions on housing markets where "Home Sales Are Set to Soar" with Colorado Springs listed as number 1 with expected YoY sales increase of 27.1% and Denver expected to increase 13.6% YoY quoting Christine Dupont-Patz who is a real estate agent in the Denver area. 

What should I expect the cost to be? 

How long are you expecting to hold and do you have the money to purchase in San Diego?

I'd expect prices to continue to appreciate, so the longer you delay, the more expensive things may be. 

Setting clear expectations can help you pretty much everywhere as well.

You could reach out to a few Property Managers in Salt Lake City to see if any of them would be able to give you advice for the area, as they would be familiar with the region and what to expect from the investment!