One thought is if what you are doing already is working why are you looking to move markets? 

Unfortunately, Colorado has just passed HB 24-1098, the "just cause" eviction bill, which requires landlords to offer lease renewals to their tenants unless one of a few specific criteria are met (if the property is going to be sold, substantially repaired, or renovated, or if the landlord’s family plans to move in - but basically you can't put it up for rent to anyone else for at least 90 days).

- What are the key factors you’d consider in making this decision?

(Note - No tenants will be sucessful moving with only 30 days notice in this market. 

If most of your potential renters renters view the area as a crime area, desirability will be lower and they may move a mile and a half in the other direction from where they are now with less crime.

But turn keys deals are pretty much impossible to find.

A key step in all of this is to understand what the zoning of the property is and what is allowed.Does the current/future use of the property conform to that usage.

You may need to move the other coverage or you may be able to just move this one. 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

We moved out in June 2023, and since then, I've been renting it out, generating around $1,450 in monthly cash flow, not counting variable expenses.