If you can self-manage locally and are willing I'd also stay local for that reason, saving 8-10% on a PM and getting firsthand knowledge of how to properly manage a property will help you a ton once you do upgrade to using a PM.As others have said, there are other risks associated with buying out of state, if you have the capital to manage and weather any storms you may run into from afar its not out of the question as to whether it is worth it but as a new investor you truly do not know what you do not know so I wouldn't recommend investing long-distance.

Otherwise, people can easily become discouraged if they don't meet that "milestone" in 5 years.Debt is a tool that is very useful and very powerful when used properly, but can be a very real game-ender when utilized foolishly. 

If he can't park properly in the parking area, then he needs to park on the street. 

I did my kitchen and flooring together to make the colors properly contrast each other.

I am not from your area  and did a quick zillow search that yielded a few old Victorian houses that definitely need a lot of work but could showcase your skills and in the meantime have a lot of rental potential if properly refurbished.

I'm looking for lawyer to consult and help me setup some LLCs to properly structure my assets under.

Make sure you don't run afoul of your state laws:)Also, if you are running your property management under your the license of your real estate broker, make sure you disclose this to them, so they can update their E&O insurance properly.

Make sure you are analyzing the properties really well before purchase and make sure that it will cash flow properly when you refinance out of it.

Maybe bump up your ownership to more expensive areas.Maybe more out side of Denver Proper.

The barrier to entry with cold calling is way too low these days, so non-serious investors are marketing and they don't have their business processes set up properly.