If you do things wrong you can lose a lot of money.Your choice is a personal choice which will depend upon your attitude towards risk and your financial ability to handle any surprises.

Popular vacation spot for folks in Denver during the summer (Lake McCanaughy). 

GOOD FOR YOU - - you have made choices for specific reasons and in my book, REI is all about NOI.

Wise choice.

In terms of your question about entity choice, I think you are asking whether you should form an LLC or a traditional corporation.

If it was breaking even or flowing even a little bit, hanging on until it passes to you would be the easiest choice.

They would be the logical choice.

A bunch of real estate people stretch the truth to get a sale and have to choose to be honest to the homeowner about what they are doing.Another choice could be fix and flip but can take more creativity to get a loan depending on how much money you have.  

Thanks @Tom Ott and @Jay Hinrichs for your prompt responses.As I mentioned, this is a well-vetted and popular company that all of you know very well.  

I like tile best for long term buy and hold rentals...durable and better in a beach town...if I was planning on selling in a year or so I would go with laminate that looks like wood planks as that is very popular here...