Thanks,  @Carl Hebert, I'll make the adjustments.

I also pointed out that her mom had owned the house for about 15 years and probably had a basis of about $135,000 and with the stepped up basis she could sell now with no capital gains but if she rented it for a couple of years she would lose that benefit.

Wondering how that would work since I've owned it for 4 years now.Unfortunately there is no benefit to you unless you have a buyer that is wanting to "substantially improve" the condo, i.e. double the improvement basis. 

@Chris Watson, Since your basis both adjusted and depreciable carry forward in a 1031 you will be able to take advantage of whatever depreciable basis is left as long as your purchase of depreciable property supports that number.   

Adjustable, callable, balloons, rates over 5% and bothering you every year for your financials.You can say low-levered property drifts into 'negative cash flow' in theory below 40% LTV, but the reality is the opposite.

A lot of our clients want to talk to us about investing and the benefits of long term or short term renters, and we direct them all to Colorado Springs (looks like @Jennifer B. likes the Springs too.)

I'm going to adjust my offer to absorb those closing costs. 

ARM loans, unless you pay a ton extra every month so that when it adjusts its not a shock, I would stay away. 

Give some information and knowledge and the benefits will come back to you tenfold.That would be in addition to starting a website, blog, craigslist ads, facebook posts, networking, telling all friends and family what you are doing, go to local meetings, code compliance lists, driving for $$, and a few others I cant think of right now.As mentioned above, you have to keep doing all of those consistently over and over.

The main benefit of this is that you'll have a team leader sending you leads and (if they're a good team leader) teaching you how to convert.Lastly... once you're settled in at your brokerage, make sure to tell EVERYONE you know that you are Licensed Realtor!...