This is only way I am staying afloat with these properties right now.I plan on selling them as the market cycles out of here and invest in more growth towns down here in southwest ct.

This means you can draw on HELOC and bank it for two statement cycles and then there will be no questions on source of downpayment funds.

Investing in lower class areas with lower rents would seem to be much more attractive in weathering changes in the economic cycle, as lower rent units are less likely to have large fluctuations in rent as well.

My only fear at this point is all the new supply coming in, the rental market is feeling a bit different this year, we aren't getting the same hikes we got over the last 2-3 cycles.

It's essential to ask for references from people who have gone through the entire investment cycle, from the initial investment to the final payout.

3) You bring up a great point on thinking about the long-term life cycle cost. 

It looks like you did learn how to see the Real Estate Cycle in the right way, by saying that you missed your "Once in a Lifetime Opportunity" three years ago.

Every market commodity has cycles and this just happens to be a down cycle that won’t last forever.

Tucson has the seasonal "snow bird" cycle, and a different seasonal U of A cycle; it has a crime ridden SW side and high-end N side. 

As mentioned, the freeze/thaw cycle combined with moisture can be a problem with it on the front range of CO.