However in most circumstances I've seen, the tenant takes the space and completes the fit-out on their own with their own Architect/Engineer & Contractor. 

I am not super experienced with Denver but my hunch would be that a 3bd 2ba SFR in the city would rent for more than 1100

I always like to start with the rents and reverse engineer it.Current rent $625-25% total (vacancy repairs cap ex management)Assuming tenants pay all utilities $470 left before monthly payment, taxes, insurance -$500(estimated) Monthly mortgage payment & insurance (no tax) for a 15 year loan.OR-$350(estimated) Monthly mortgage payment & insurance (no tax) for a 30 year loan.Depending on what kind of loan you have out15 year loan, cash flow = -$3030 year loan, cash flow = $120This does not take into consideration the rent increases.

They run property management and are experienced investors themselves. 

I’m pretty experienced with long term rentals but this would be a first to allow a tenant to AirBnB/ sublease the property.

I am selling approximately 30 acres for about $1m to an experienced developer/investor.

Thanks for any recommendations of those experienced in the area

One thing, the experienced partner can not contribute any down payment funds to the partner who is getting the financing.

For example, you can be fully hands off and less involved (meaning less ROI) and have an engineer/architect, interior designer, construction/project manager and general contractor do everything for you.

I am becoming more comfortable analyzing deals but I'm still seeking counsel from more experienced investors.If anyone has any suggestions for experienced resources that I may be able to connect with, please PM me or shoot me an email.Thanks,Aaron