Should I buy in Denver, and focus on larger rents after I pay it off, or should I buy out of state for all cash and get immediate supplemental income?

The lump sum money may negatively impact the amount the state will supplement for care until all of her cash has been spent.

In addition the borrower must have unrestricted access without penalty to the accounts; and if the assets are in the form of stocks, bonds, or mutual funds, 70% of the value (remaining after any applicable costs for the subject transaction) must be used to determine the number of distributions remaining to account for the volatile nature of these assets

I'm conservative by nature and understand the statistics of having to sift through many homes, offers, and deals to the find the right one while sticking to my guns on my criteria.

@Lee Stephens make sure to account for the following expenses in your calculations:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance  a) Property Hazard Insurance (0.3-0.45%)  b) Flood Insurance  c) Earthquake Insurance  d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)  a) Water § Sewer § Garbage  b) Electricity  c) Natural Gas  d) Propane9) General Maintenance (usually 5%)  a) Upkeep § Landscaping  b) Snow removal c) Repairs  d) New Appliances  e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

Due to the nature of my job (I move around a lot), I HAVE to invest out of state.  

Nothing wrong with getting into rentals for supplemental income but I'd shoot for a rental that appreciates in value. 

Its the nature of the game.  

Naturally the other tenants are very concerned about safety as am I.

Naturally, it all depends on your initial downpayment versus rental income and other factors, for which you should run the BP calculator but you can basically have your tenants pay you the downpayment for your next property and you can benefit from appreciation over time as well.I agree that turnkey does not have the bigger leverage, but done with the right company, i.e.