I've dealt with this exact same situation, and ontop of everything I was dealing with the Section 8 housing authority because my tenant was a voucher holder. 

Took me 2 years to completely gut and re do everything in the house.

@Parker BullardFrom my experience, house hacking is a great way to reduce housing costs by renting out part of a property, like a duplex or triplex.

In addition, a strong property management company will tackle all aspects of marketing, application, ensuring resident satisfaction, fair housing, handling late payment/evictions, renewals, etc. 

House hack is the only option but even that might not be feasible.

My wife and I got a duplex downtown and are house hacking one unit. 

Purchase price: $499,990 5 bed 3 bath split level house in Hyattsville, 1875 sq ft

I replaced my old water softener with an AQUASURE from Home Depot, and it works just as well as the one I had before (which came with the house).

If I were your age, I would 100% do a house hack of some kind.  

It's one of the last few "affordable" areas near downtown Denver.Are you buying as a primary residence, looking to house-hack with the studio out back?