The cash flow isn't great but I understand that it's a by product of the 15yr mortgage and what feels like a B class property. 

I was already leaning to the side of just stashing the money away so it will serve either/or function, first as a down payment for your next property or money to pay major capital repairs or improvements.

But that doesn't help the OP since the majority of closing costs are from a lender, they are much less when there is no lender due to a cash purchase.OP, I've bought houses as much as 500K and never paid more than 6-7K from what I remember.

Then if you have a better use for the 3rd unit when at full capacity they you can look to remover them.Curious - whey loan product are you using for a owner occupant that needs a gut job? 

If you can buy a $300k property and only come out of pocket $400/month for it, that's a MAJOR win my friend.

The oils are messy if spilt but the major issue is it will set of smoke detectors.

Personally, Integrity, Track record, Conservative culture, and Interests alignment are key when selecting a firm to invest with.You NEED to feel great about investing with a certain company, you need to feel that you can actually trust them and sleep well at night knowing that not only do you believe in the product you invested in, but the people behind it.

There is free landlord software out there that will provide you with online applications and screenings as well as market syndication so your property is posted to all of the major listing sites (i.e. apartments.com, realtor.com, Craigslist, etc.).

What are the major macro economic factors that attribute to your attraction to that submarket? 

That's strictly a cashflow mentality since he seldom assumed appreciation.Colorado is experiencing major appreciation, so you could lower your payback standards since your profits would come from appreciation.Finishing the basement: Assuming $15,000 to get an extra $250/month, that's a payback of 60 months or 5 years.