I have also done work in Boulder, having lived there for many years, it has most of the same issues as Denver, but even more inflated prices, and unfriendly regulations.

The single family market here is so inflated so the 1% rule here sucks to say the least especially if you are looking to go new build.

My 3 cents worth adjusted for inflation.

Remember - in the country where the Fed Reserve creates an inflation, the tenants expect the rent to go up every year.

My safe investments are a mix of treasury bond funds and TIPS (treasury inflation protected securities) so they balance different risks.

I worry about STRs with the continuing rise in inflation and the Fed's aggressive actions. 

They will refinance once the rates drop, but they still were able to build their net worth/financial situation by acquiring the property now to let it appreciate over time along with the tenant paying the loan down & using the significant tax benefits of investing while the rates are high, especially to offset inflation.

VA disability is tax free income and will only increase as inflation increases over time.

Namely:- Building equity from annual principal paydown (funded partly or fully by your rental income) and long-term property value appreciation (we know that in the long run, real estate values rise, partly due to inflation).- Rising rental income (rents rise over time as well).- Tax advantages (plenty of resources online about this topic).- Experience, both as a property owner and as a landlord.- NOT PAYING RENT.Hope this helps

Northern NJ is hot x99 now and prices are inflated because people are overpaying with FHA loans and overpaying with all loans right now on multis.