This will give you a huge gain in knowledge and experience.

Personally, I know a LOT of people are expecting cuts to start happening in June but with the spring market being hot here in Winnipeg and with the recent carbon tax increase I could see inflation staying high forcing the BOC to keep the prime rate where it is.

It's a great way to stay current!

Stay curious.

You can use up to $25k a year of those passive activity losses if you are actively participating in your real estate ventures ("small landlord" exception) and income stays under $100k a year.So yes it can be useful if someone happens to fall under these circumstances, but for anyone who is going to have over $100k a year of retirement / other sourced income, they may be out of luck.It's all timing - you are just using up those PAL earlier than if you waited for the rentals to start producing taxable income (they normally do if it is a good investment), or a property is sold and PAL are released to offset that income. 

as meanchend 1st mortgage stays with the property; you might want to consider negotiating with the lender to pay off the mortgage at a discounted price. 

Or what methods have you implemented to keep track of information and staying organized?

This is one of the things I look for whenever I travel and stay at hotels or STR's.

From what I have seen in Colorado Springs, the lease only tends to range from half a month's rent to a full month's.Keep in mind, Colorado is coming out of a very anti landlord legislative session and you will have to stay in compliance with the changing laws.

Just depends on what your comfort level and willing to dive in the deep end.If your open to higher price range I would tell you to try and stay in the multifamily since it helps offer more rents per month under one mortgage, tax bill and insurance policy.