Vs her current super-chill life, get's special discounts all over the place for being "too poor" and all the while can work cash jobs when wants extra, keeps her bank account low, plays the game to get here "free ride". 

Rates will at some point allow you to refinance.  

Tenants are all market rate.  5 year leases.  3 are NNN and 2 are NN. 

Look to ask the seller about financing back whatever they want for their equity but make sure the mortgage rate and payment are at a place where you will be able to cash flow effectively.

For any of these real estate funds that have guaranteed rates of returns for set periods I would want to understand how my investment is secured.

However, you may be able to get the property at a discount, step in, and solve the problem.

So, Colorado vacation rentals will be taxed at something between the current residential tax rate of 6.7% and the commercial tax rate of 27.9%.

Now, after doing this several times my success rate is around 1 out 5.   

If it was due to a natural disaster they cannot raise your rates.

What are their nightly rates, occupancy and amenities?