By adding a co-borrower with strong credit, they may be able to qualify.

Novice poster here.I have co-applicants to a unit.

If so, is there anything to stop someone from getting a GC license and getting insured, then subbing out all the work to uninsured workers? 

I'm based in Colorado, if you have any interest in the market here just reach out and I'd be happy to share my experience. 

Fund it with a hard money loan (Dad's down payment money) and my income as a social worker for the state.

If credit is good, and DSCR is 1.1+, you may even be able to realize an 80% LTV on delayed financing, since it's treated as purchase funds rathe than CO Refi (which often takes a -5% LTV hit).Hope this helps!

My max purchase price would be about 400k but ideal would be about 150k.I live in California but I am willing to invest out of state in either Nevada or Colorado.

After a year you know if they are going to pay on time, keep the place clean, complain about everything, beat their co-tenant, leaving holes in your walls and so forth. 

This allows you to obtain "purchase pricing" vs CO Refi pricing (which always takes a hit typically).

I was wondering if there’s anyone here with experience in investing in military towns (Colorado Springs or El Paso, for example)?