I work as a purchasing clerk for the Four Seasons Hotel Denver and focus mainly on buying the beverage for the property including wine, liquor, beer, soda, water, etc.

I assume they want me to get rid of the house to make the debt to income ratio work; I'm likely going to "sell" it to my dad.My criteria: I want to buy and hold and I prefer a multi-family property (up to 4-plex) that we can occupy and rent; however, I know the DFW market it pretty tough at my price range.

Construction starts have gone up steadily the last years, we are back in the 1.2 million range, with even more permits pulled as a leading indicator for further gains. 

Juliet, or Hendersonville area in the $250-500K range.  

As part of the Colorado Front Range Trail, it’s a magnet for Denver’s young professional workers.

Given the right purchase price (BIGGEST MUST HAVE) and a very solid idea of repairs since I will have inspected before, I could raise/beg/borrow/steal the repair funds especially since the expected return range would be much clearer by that point.  

This house is asking $117k and has several comps in 50-60% ARV range, what do you think?

@Phillip Tamez, I determine the mid-range rent utilizing comparable rentals in the area.  

Perhaps open a HELOC and keep $10-20k in reserve for that one month when a water heater blows up and you need a roof repair. 

The depreciation would be negligible on a $35K purchase price since the depreciable basis would be $35K less the land value ratio, so probably in the $20K-$30K range on the basis.