I am not a lawyer and this is not legal advice, but I would definitely think those landlords are walking on thin ice with that kind of terminology in their description.

What kind of investing are you looking to do - buy and value add (rehab)?

It has been a 3 year journey  to get where I am today with lots of turns and twists but if one   has a plan and keeps evaluating it adjusting  visiting and making improvements   you get where you want to be  .

I appreciate the kind words and recs!

@Theo Hicks what kind of work could I do?

What kind of deed are they offering?

I certainly don’t expect to make this kind of ROI, 20% is more realistic. 4 years ago the MLS still had some deals even in the Denver area, however that has since dried up and I have a plan on obtaining off market deals.

Just make sure you have some kind of water proofing to prevent that happening again. 

So to answer your question on getting started - I would pick a market and start thinking about what kind of property you can buy today, with your capital.

I think you’ll be stuck covering the costs until lease end, unless you can work out some kind of deal. ($50 off rent, but you pay water usage that has averaged $40 the past 6 months).