Also, be cautious when using a HELOC as a down payment on your next property.

On top of this, many homes in the Denver area do not cash flow well due to rising property costs. 

I know a lot of variables have to be taken into account.

The existing leases should be fine, but when you renew, you'll want to be sure that your name or business entity is the Landlord on the lease.

I had thought the process would be an engineering firm.

Something to be aware of.We've filled vacancies at our medium-term rental in Denver in January before, but had trouble in November and December, so I don't know if the winter is tough or if its simply the holiday season.I'd be more interested in buying the right place whenever it comes up.

It pays to know the rules, what you can build, the busy times, and to run it well.

You could also pay no points on a DSCR, however the rate will be higher. 

And who should be held liable for the damage?

Are there any gotchas that I need to be aware of?