Travis,Fannie Mae and Freddie Mac both have renovation loans that allow you to do this with as low as 15% down on the renovation + purchase price as long as the home appraises at that value or higher.

^^^Biggest driver of wealth in real estate is the long-term appreciation, especially in Denver.

Sorry for being long winded but my grandma always said "closed mouths don't get fed"..... so FEED ME!!!!

Operating costs are known and everything is new, so reserve levels are usually tiny as there is a long time to build them up before they need to be tapped. 

@Whitney Bivins, it doesn't sound like a deal killer to me as long as the seller cooperates and provides concessions at closing.

But I am torn because the long term return is great. 

If you buy volume, you should do well in the long run.

Leverage tends to adds risk, I always recommend having the worst case backed up by, long term job prospects, other liquid assets to cover losses, an/or the ability to take measured risk more than once to even out uncertainty.The richest individuals use leverage to their advantage all the time, but it should be used with care.Zach

If you are overpaying, then you could be hamstringing yourself in the short-term, but should be fine in the long-term as long as you can hang with the insurance costs.Failure is a mindset and it seems you are having a weird bout of FOMO.

You would want to employ strategies like 3 or more night minimums to encourage week long bookings and weekly discounts.I would actively adjust prices to maximize revenue.