This is extremely helpful.

However, joining the board here is extremely difficult due to how well the current board is known and unwilling to step down.

We bought our energy corridor personal home two years ago and it was extremely competitive. 

Great guy and extremely reputable!

If all goes well we would purchase another rental once that was debt free.Our home is worth at a minimum $200,000 if one had to sell extremely fast.  

This does not suggest any sort of recovery in the economy, and frankly, it suggests that house prices are being propped up with investor money, that is bidding higher and higher.I cannot believe for a moment that this is sustainable, especially since most of these investors are leveraged up to their eyeballs in debt, and if the market rate for rent goes down, there will be some extremely sore investors out there.However, it is nice to know that when the market corrects again, our strategy of building a war chest for failed investment properties will make us a good return in the future as it did last time round.

I know rent there is quite strong, with extremely high demand and high prices, but in the other hand the property prices are very high as well.

Not to say that money can't be made but personally I believe that people are more considerate of their utility usage when they have to pay for it. 

If the property is listed in in the MLS it may have more info on the court order sale.With these types of sales it can be extremely difficult if not impossible to wholesale.

As you may have heard the Denver market is extremely hot right now, absolutely a seller's market and it is becoming harder and harder to find deals on MLS.