I believe Houston does not have a short term rental ordinance in effect, but double check. 

If you are planning to substantially rehab the property, you would need to issue a 120 day notice and there are state, county and potentially city ordinances that you will need to abide by regarding relocation assistance for your tenants. 

Essentially allowing him to do business in Colorado using the same name and EIN.

When all goes well things are good. 10 years ago, Investors enjoyed working with good wholesalers who would actively scout the properties desired and do all of the leg work.Over time, the ability to get involved with little or no skin in the game, the ability to make a lump sum of money quickly, and a plethora of bad information made available by people who were only after the disposable income of those who really did not have enough money to get involved in higher level RE took a good tool and exploited it.Wholesalers exploiting undereducated layman (someone who does this exclusively for a living is operating as an Agent with no licensing issues to restrain them or cause them to disclose expert status), using a lot of really distasteful tactics (like trying to wholesale deals already on the MLS, co wholesaling through a string of folks) and getting greedier and greedier as they went....That's where the stink came from. 

I think one thing you could do, would be to get a co-signer, but sometimes there are some goofy loopholes to get through as well.Maybe @Zack Karp or @Michael Facchini have a solution since they deal with loans 24/7.

BTW, learned the pain of not having LAW and ORDINANCE. 

So I'm looking to buy a duplex with a C/O in order to avoid problems in the future with renting to 2 tenants when I eventually move out of one of the units later on down the road. 

If the tenant confirms that they will not be renewing their lease you should coordinate with your GC/repairman to start working on the turn the same day the tenant moves out.

Happy to help if you are interested in investing in Colorado and I know great agents in other states….where are your areas of interest?

Retail flips are time consuming, a PITA to coordinate multiple contractors, you have to go to the property a bunch of times, and there is a lot more risk involved.