Associations can levy special assessments and have deed restrictions that also interfere with typical note collections and enforcement.  

Definitely check out inventory and DOM, this gives you an idea how fast or slow the market is and help estimate your holding time.Also pay special attention to other flips in the area.

However, there is a "special allowance" that may apply in some circumstances.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.

I do lot more rentals than flips and I try to think of my business as an assembly line specially for rentals..A house goes in the system, goes through the process and a rent ready house comes out of the assembly line..

You might consider Niche or Specialized Housing like student housing.

Does anyone  have a good recommendation for Attorney specializing in Investment Real Estate in Colorado?

I know there are like a million real estate courses out there are gurus who promote them, but I was wondering if anyone here has any recommendation for a course that specializes in teach how to invest out-of-area, particularly wholesaling.

Is there anyone in your area the specializes in the purchase of land?

RE agents specializing in the area.