These issues are not purely real estate matters.

Which items are absolutely necessary to make another unit habitable (plumbing, electrical, or HVAC problem), which items would make an "OK" unit more attractive (replace appliances) and which items are purely cosmetic (extra landscaping)?

Seller financing in our area is as rare as a good Will Farrell movie and subject-2 deals that make sense are even harder to find.One of our rentals used to be my primary residence for around 5 years, so financing that was purely conventional.

It is easy to get caught up in purely looking at cash flow, but cash flow is not the only criteria in investing.

Plus for the first year or so they wouldn't cash flow and you would be then playing the appreciation game.It does seem that in Denver area unless you have like $300k liquid it is hard to get into the true pure investment property play.

I'd consider doing it purely for what you'd LEARN from it, now how much you'd profit - that comes later as long as you don't make a very bad buy (less than 1% rule). 

In theory, yes, you're using a higher percentage of your income to pay down your loans, but this is purely optional. 

I don't regret making the decision though,  but at the same time,  it was pretty nice and I only got to enjoy it in a completed state for a few months.On pricing,  (buying and selling) one nice thing about multifamily,  and the more units there are the more true this is, is the price is purely a function of the income vs. expenses.  

When I do my calculations on that property with the 1.3 DCR - I cash-flow hardly anything and it becomes a pure play on appreciation due to the location being very prime at a busy intersection.

I’ve made more money on the houses I lived in then on any pure investment property but that’s time playing a bigger part more then anything else even though I always bought the ugliest house in the nicest neighborhood.Think of this; once you are done, are you willing to pack up and uproot your kids to the next property?