Instead of renting the traditional way, I'd like to do a Lease To Own or a Lease with an Option to purchase.  

Contractors are tougher now than a few years ago when the market was soft and even the great contractors were in need of work...These days, you have two choices -- find perfect contractors and let them run with the project, or find not-so-perfect contractors and manage them closely. 

I think having the freedom to make those choices is many investors end goals or at least one of them. 

Isn't usually worth it.if the property is held in a trust, then the choices are pretty clear cut.  

They don't want to chance loosing that and understand that if they get evicted, it can have jeopardize their ability to continue on the Housing Choice Voucher program.Even though we have chosen to target only C+ and better neighborhoods for buy & hold, we've already made the decision to accept Sec 8.  

But in a market where many would-be homeowners cannot qualify for a traditional mortgage, notes can be helpful to the homebuyer as well as the note originator.

If it is, they're not a good choice.

Not that they have a choice not to pay, but the issue is that no one may have the money to pay the expense up front and there is no money in the reserves. 

Number of units matters as well.I focus on the commercial transactional side and my own investments by choice.

It takes a lot more time to manage 3 one bedrooms vs. one 4 bedroom where the cash flow may be comparable.Since the Denver metro and front range has an increasing population base, I would stick to that if Colorado is your first choice.