Keep at it, everyone gets a bad tenant, don't loose heart over it.  

I live in central Houston, bound by a couple of bayous.

There is a loose correlation between quality and percentage paid, but I've also had to switch out a PM I'm paying 10% because they were unprofessional and doing a poor job in general.

Sandra you nailed it when you said it sucks to loose the money, but the part that urks me the most is they have not budged on the original price and act like their price is some fantastic deal.

I could go higher, but then I loose my avail cash for actual reno work. 

You loose the possible forced appreciation with turnkey but it might be your best bet with your situation. 

If you want a multi for 300k in the Denver area, look to "old Aurora" bounded by Yosemite on the west, I-225 on the east, 6th ave on the south, or Montview Blvd. (20th ave) on the north.

Eventually you will want to move and why buy a place that will loose you money when you move.

I'm not sure I want to loose another 1500-2k again before I get it sold,  so I thought a Tracking device would be a good idea.  

I'd do it anyway, even if I was not legally bound to do so, as it just makes sense.I would certainly check with the HOA for their preferences/rules.