Based on CMA I'm expecting atleast 30 days to find a tenant. thanks for the advice!

Looks like there are a few in Colorado.I agree I learned much from (close to) free sources but did take Apartment course (syndications) through my REIA from Anthony Chara who is based in Colorado.

And then how do you value the property based on the density etc? 

In general, expenses related to the purchase or improvement of a rental property can be deductible, but the treatment of these expenses may vary depending on the nature of the expense and applicable tax laws. 

Based on the OPs description, the Grantee in this case may just do that.I'm not an attorney and this isn't legal advice, just my opinion. 

I just add that amount to the base rent in the lease. 

Managing multiple properties does come with its own set of challenges, like juggling different maintenance issues, taxes, and possibly even varying market conditions if they're not all in the same area.Here's where your financial goals come into play: Are you looking for a more hands-on investment with potentially higher cash flow from the get-go?

I do have a call into them but haven't been able to touch base yet. 

I am a CT based real estate investor and I own a PM company.  

Let's touch base next week.Thanks,