Denver is very expensive for a new guy who doesn't have loads of capital so a market like Missouri for example is intriguing for far cheaper real estate but then Id either have to move, improve the property remotely or simply buy and hold as a rental for X time. 

To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

There is another house about two blocks over that I have the opportunity to buy off market under market value.

Why would someone buy now and make little money for the chance that the rates will adjust later?

Closing in a few weeks or less@Ben Fernandez So, I assume you're buying between $100k-$150k with $50k-$100k in rehab?

Yes, you could easily buy a fourplex in Colorado in 2012 with 3.5% down using an FHA loan.

@Fabio Cattolico"if I could get an out of state property for a great price and the numbers seem promising, wouldn't it be good to start off like that if I'm in a place where buying is unaffordable?"

I have been doing these type of loans for 30 plus years and buying foreclosures since the late 70s.. seen it time and again  ..

I buy in the 220-260k range.

Quote from @Cameron Marmon: Hello everyone,In July 2024, I created a partnership LLC with my girlfriend to buy a rental property.