I plan to rent out the basement but have a couple of questions as this is my first house/house hack:-Littleton rental law considerations (this might fall under JeffCo rather than city of Littleton, can't really tell)-Thoughts on best lease strategy for that area (STR/MTR/LTR)?

You'll be spending even more money to try and get money from someone that doesn't have any money. 

I do plan on documenting any and all damage or expected damage and claiming upon cleaners getting in there.Appreciate all the feedback.

An often overlooked option...call the CC company and ask them for a reduced interest rate payment plan.

I always have family and friends giving me negatives like " what is it doesn't rent" or who is going to "pay that much for rent" or "what if the tenant burns the house down" are these realistic situations and how do I prepare and understand to to come back if anything like this happens how do I plan ahead.3. should I go for a newer house with little to no rehab for 415,000 or something like 350,000 with like 10-20 in rehab?

I would suggest that you get with an attorney that represents real estate agents and run your plan by them.

I offer a lot of development consulting since I have a background in Civil Engineering and Urban Planning.

My wife's even planning to camp out there for a couple of weeks to make sure things get done right as we are based out of NJ, so time's of the essence.

Do you plan on rehabbing it?

Let me show the numbers; please let me know if it makes sense:Property Original Value $10,000,000.00 Initial Finance $7,500,000.00 Investors Money (Downpayment) $2,500,000.00 Ipotetical foced Appretiation New Value $12,500,000.00 New Downpayment/Equity $3,125,000.00 Refinance Principal $9,375,000.00 Cash Out from Original Investment back to investors $1,875,000.00 There are some MF investors that hold the property with no plans to sell and keep doing refinancing, and this seems to be the model applied by Ken McElroy.