I recently bought my first property - a 2 bedroom 2.5 bath townhome which is also where I reside now.

Your careful, disciplined real estate investing will make so many of your dreams come true you'll start dreaming bigger dreams.

The reasons being, rent by room is technically a boarding home style of operation, think halfway house, elderly care facility, childrens home, etc. 

Almost every city along the Front Range has banned short-term rentals unless it's in your primary residence.

Also, if you haven't already, make sure zoning laws allow for that use, and that there is no code provision that prohibits a certain number of unrelated individuals to live in a single residence.

I can tell you to qualify for a hard money loan, which is a business-purpose loan (so this would be for investment properties, not a primary residence).

primary residence How did you finance this deal?

Considering other choices, including buying a single-family house for your permanent residence and looking into different areas for mid-term rentals, can be worthwhile given your family's needs and preferences.

I am thinking of taking a job out of state and during that time I would like to rent out my primary residence which is a one bedroom townhouse in Buckhead/Atlanta.

I want to buy him a home (1-4 unit) which would be his primary residence.