It took me years at my day job to earn that cash savings.  

That's in brief ...my opinionAlso, don't forget that Denver is at its peak or close to it so that should have weight in your thought process.Good luck man!

Many ask and are told it is a good idea to rent their personal home, I believe it is vary rarely a good idea.I prefer to invest where my money will earn it's keep.

Nothing in this Note shall be construed as creating a joint venture, partnership, tenancy in common, or joint tenancy between Lender and Borrower.In the event that the holder wish to withdraw any portions (with prior notice) of the principal amount during the term of this note, Holder will waive any/all interests earned and only the initial principal amount will be returned to the Holder.

Here are the reasons.One, the additional income will negatively affect the low income tenant who lives on welfares including food stamp, earn income credit and obama care etc. 

In doing this I earned about $150K in equity from the get go, and I'd like to use the house to build further equity as the area cooks and then 1031 exchange in 2-5 years and buy something larger. 

Do you know if the k-1 earnings are reported as interest income and taxed as ordinary?

Sell when the market peaks and buy into good deals when available.

.)- You manage everything, get the property rented and seasoned, and earn your sweat equity.

Obviously, they'll need to trust you, and not everyone will like that idea, but it would allow you to get started and earn some money (and see if you like it) before investing a lot of money into it.