I think the RE market and Denver can handle a small rate increase, most lenders have already factored it in because they're convinced it's coming from what I've heard.

Make sure you factor that in to your proforma.Let me know if you need any help or if you want to discuss further.

The 3 most important demographic and economic factors to look at are 1.

Taxes shouldn't be the only reason to invest in one state/county over another, but they should certainly be factored in.

@Tom Mole, My goal is to have a long term steady income, but given I have about 80K equity locked in, i want to see if I'm making good returns on this, given my income/expenses, what other factors i should consider to calculate returns on this investment.How does higher refi interest rate affect my returns and is it a good return on equity I have?

I am currently a college student working with a real estate investing & redevelopment company here in San Diego, Integrity Home Solutions Group.

There are lots of factors that will play into this but we don't know a lot about the property. 

If you were to hold it, it would hit your beloved 1% rule then, but what would it cash flow with all the expenses, financing, and income factored in?

What's the biggest factor in choosing a location?

For this reason I would highly recommend looking at multifamily greater than 5 units (that's the commercial lenders threshold; below that your income and job would be a factor).I am constantly looking in the Atlanta area, and although it might be hard to find a multifamily for ~$366k (the $110k / 30% -->typical amount down), you could always partner or participate in a syndication (crowdfunding).