I failed to also mention that there is some sagging in the 1st floor as well right above the 10’x15’ crawl space.

Dont try to force yourself into that little space that some or most people occupy. 

Under 1200 square feet but plenty of space for 8-10 people on a trip.

Over 40 new apartments will be created and over 20,000 sqft of commercial space will be reactivated. 

Renovate to the standards of they type of tenant you want in your units.As for the furnace, it seems to me like you have an opportunity to replace it now: everything is being torn up anyway, you already have a budget for larger expenses.In my mind, why tear up and pay for a big, disruptive project later when you have the space, time and budget now.Just my opinion though.

I'm also looking at Jacksonville, the Space-Race Corridor in Florida, Little Rock, among others. 

I did not receive any sleep that night and I had strongly felt that the new management had failed in its number one priority: to provide a secure living space for its residents which is protected under the implied duty of habitability.

Marketwise, you want to look at not only growth, but also supply constraint.

Right now I don't spend a lot of "free time" in pueblo (when I am in town, I am on a mission), but if you're ever up for coming up to the Springs there is a meetup at third space that I regularly attend (along with @Daniel Haberkost).

There is much less red tape in the commercial lending space opposed to the individual or consumer loan space.