Also you bring up a great point, post it in the housing section in sure you will get a response quickly.

I opted for insured closing instead of a QC.

I work full time selling insurance and on the weekend I put time into a tech start up my friends and I own.

An ideal situation is for the now seller/landlord or you to draft a document that states the tenants must vacate within 15 days after closing, have them sign it and then leave that as the now landlord's responsibility to deal with, its his mess, and then also have the landlord pay you (escrow) PITI + security deposit + expenses 10% during the period these tenants are still in there (refunding the security and expenses if not needed back to the seller). 

You will appreciate a structure people are familiar with every time you go to buy insurance, deposit security deposits, etc.You can get a tax ID instantly on the IRS site.

They just  count on insurance to cover their risks.An LLC is not a substitute for insurance.

The insurance will vary based on whether you need a Builders Risk policy and vacancy coverage (which you typically need). 

Hey everyone, I'm getting close to purchasing my first rental property but am in need of a lawyer to go through rental agreements and other legal documents that I got through Brandon Turner's Book on Managing Rental Properties (awesome book by the way) to make sure everything is in line with CO law.If you have some good recommendations of someone in the Springs I would love to hear about them.Thanks in advance.

Insurance is another biggie to agree on. 

It took us just about a year from start to finish.Our mortgage tax and insurance is 633 per mo.