So, for sure, I need to exhaust my ability to get 5% conventional move-in ready.The only way the 7% seems to work is if you have a dramatically higher LTV.  

I currently own a business that I'm parting ways with my partner and that company just mentally exhausted me.

I have a new exhaust fan over the stove, I told him at walk through that I would probably replace it since the contractor did not install it correctly.  

Nail holes, touch-ups, drains, exhaust fans, heaters/furnaces, a/c filters, gutters, lock changes.  

I bought, renovated, found a tenant and was EXHAUSTED by the end.  

(This is not exhaustive advice so do your own due diligence)While the Denver Zoning is large, start by figuring out what zone the property(ies) you are interested in are https://denvergov.org/maps/map/zoningThen read up on what kind of structures are allowed based on lot size whether it has an alley in the back etc.

@Candace Postell I encourage you to sit down and really work up an exhaustive list of what you need, and then come up with a REALISTIC estimate of what those things will cost.

You can reuse your entitlement until you have exhausted your entire entitlement. 

The process was hard, fun, challenging, exhausting, and I can't wait to do it again.Now we are going to take the next 6 months or so to save, educate ourselves, and network.

I have never seen a property that has exhausted all possible appreciation forcing opportunities so even if it seems stable it might still have some "meat on the bone" to improve income or reduce expenses (e.g 100% occupied property usually means there is some room to increase rents).Lastly, forcing appreciation might sounds like an awesome thing to do but it involves a lot of hard work, careful planning and being ready for the hiccups and surprises life throws at you.