In Colorado, you must be a broker in order to manage property that does not belong to you.

My late husband lived in a cave in Colorado in the late sixties so that he could afford to attend law school.  

Good idea on paying your own owners policy to get a local title company to close the transaction for you, they are more likely to get you all of the info on what needs to be cleared, etc.The local real estate agent they use now ever since Hubzu came out is based out of Florida, with a Colorado real estate license.  

The market here in Colorado Springs is super hot right now, so we jumped on it.

My handyman is getting close to retirement. Looking for additional handyguy for basic stuff like door jams, paint touch ups, yard clean ups etc. Thanks again,Matt

Colorado Springs, Colorado made national news as "The Foreclosure Capital of the World".

Looking at condos listed at 80k - 90K in Colorado.

Colorado Springs is ranked 5.  

Well, the rub is that the builderdeveloper is probably trying to sell the building to some fund or investor and if you multiply that extra $200/month in rent by a 5% CAP rate they (the builder/developer) will net roughly an extra $50K in additional sales price when they sell.  

I bought a foreclosure Condo (2 bed/1 bath) in Colorado Springs a while back for $50K cash.