As long as you don't expect to be on the main commercial corridor, you'll easily find a property zoned CMX-1 that will fit your needs in that price range.

What price range are you looking at?

It takes a lot more time to manage 3 one bedrooms vs. one 4 bedroom where the cash flow may be comparable.Since the Denver metro and front range has an increasing population base, I would stick to that if Colorado is your first choice. 

I'd say you are probably in the $2000/month range.

With the winters we get here, it would be a struggle to find decent renters ($600 - $900 range) without a garage. 

Most 1031 exchanges in that range would cost much less than $1,000.  

Can you take a look at deferred maintenance on the property that you could also negotiate the seller down to the $400K - 450K Range?  

You tilled and wheel barrowed all that dirt in 5 hours ............at your age . ( I am 53)I start chuckling and said there were no "guys" just me and walked him around back and he saw the tractor ,  Hell no , I like big toys .Then he tells me he was getting prices from landscapers in the $ 3000 dollar range and they told him it was a 3 or 4 day job.

I think laminate floors are here to stay, at least in lower price range homes.  

You seem to have a wide range of experience(s) and would love some insight.