In the end, it's your decision based on your comfort level.If I (my risk profile) were you, based solely on what is above, I would not go for the 3rd property at this point.

Even when I hear stories about investors that scale quickly, take on max leverage, partner up, etc. and get 28 doors in 2 years, it's either a situation where all details and context are not communicated (rich parents - for example) or it was a "just because something worked does not mean that it was a good idea" situation.You win the investing and real estate game by never being a forced buyer or forced seller and letting the compounding effect of time take over.

I am also concerned that at that point new HOA might have to raise the fees significantly or charge lumpsum to the condo owners based on something that might come up.

I've worked on some preliminary underwriting analysis based on my land development research over the past few months.

A lot of people prefer "simple" agreements, but truth is, there is a lot of moving parts in the property management business, and the PMA should take this into account. 9) Access for communication.

If they do not sign a new lease immediately, It would be a great idea to communicate with the tenants 30-60 days before the current lease expires and have them sign a new lease with the new terms. 

I'm based in NYC and managing the MTR apartments remotely has not been a problem. 

Hey @Casey Haight, I'm also based in Salt Lake, and was in a similar position back in 2017.

I just figured I wouldnt be able to qualify based off my W2 income.

That you are experimenting with different approaches and trying to get in touch with Denver-based investors is great.