Of course location plays into the decision.

I'm aware that "re-training" (as @Brandon Turner would say) will be part of the work involved in getting this property churning at full efficiency, however I think I have more important decisions to make (see below). 

Hit or missIf I got this offer I would be insulted you're trying to bring emotions into a purely business decision.

Buying the property under value, buying the property which is poorly managed and under performing, buying a property that needs work and or can have some value added by changing the layout or number of units.

I read Rich Dad Poor Dad a year ago and am now looking to increase my streams of revenue.  

Hi @Agbolade Adesoye ,Good job on making the decision to invest, but the timing isn't right just yet.If you're wanting to invest your own funds, continue savings cash until you have more like $25,000 available to go towards that rental house.If you're wanting to invest other people's money, find wholesale deals in Arizona and apply the BRRRR method .

Lay down the law and never compromise on your decisions and actions.

Over the years I have wanted to sell the property as I didn't realize what a great investment it really was until I picked up the book, Rich Dad, Poor Dad, and read more about real estate investing.

Upon remedying this foolish decision I have a few options to consider..1) Purchase a 3+ unit owner occupied multifamily property in Colorado Springs.

My personal strategy is not to go after 3+ bedroom units, and I do not want to deal with multiple children, particularly in a poorly rated school district.