If not, please correct me and I would appreciate if someone could direct me to some towns that would potentially meet my expectations on what I would be able to afford? 

And if that's the only way a new owner is able to afford to buy a building, then they overpaid in my humble opinion. 

If you have access to college or a trade affordably after high school I recommend the experience.

It is great to be a provider of safe, affordable housing, but doing so also comes with difficulties.

I'm mostly worried about the interest rate changing on the HELOC and not being about to afford it and go under water.

In the future, we plan to be more conscious about cheap and affordable style choices.

Cripple Creek is busy year round and properties are relatively affordable. 

@Evan Swanson Some of it boils down to affordability.

Act as is the lease is being terminated and point out that since she can't afford the unit by herself and can't find another roommate, she needs to be looking for a new place immediately.

We plan to upgrade in a year or two or finance it.Basement$25,000Basement furniture$5,000Upstairs furniture$10,000Won't be necessary until we move out and rent the top unitHolding costs$7,650Might not be necessary but if we need to continue renting for 3 mo during renovations.Total renovation cost$160,250I'm happy to provide more details if anyone is interested (I'm a numbers guy).