I gave up on playing games with the sharks swimming around the Denver Metro.

With scenario 2 you can do a cash out refi on your current units and take that money to acquire more units...ideally utilizing the BRRRR strategy so you can keep growing faster and faster.

(Prices in the last decade have been a few years behind Denver.)A lot of people are interested in the Midwest (me and my wife, for instance), but if you're looking for something close to home, it's a good play. 

Ideally, 1 person would come in and make us an offer, but we'd probably get a better price if we sold them to individuals who specialize collecting in the different areas.

I would say it's a high risk / high reward play.

And definitely read some of the many BP articles about running your numbers, and start playing with the BP calculators!

It could cash flow right under $100, taking all expenses in account and saving for vacancy, maintenance, capex and paying for PM, not ideal metrics.  

They love managing agents instead of selling and closing deals and more power to them if that floats their boat it's just not my ideal thing to do.I am not against maybe eventually having a few agents but any of them that make my life more stressful or difficult would be be going bye,bye real quick.

You don't need inspections or appraisals with cash... and there's no chance of the loan falling through for something on the buyers side.When you start going the condo route, in addition to what you said owner occupancy can also play a part in needing cash.

This seems like an appreciation play and I'm not a big fan of that.