They have been super hot right for some of the investors that I have come across.The smart investors are covering (or even making more profit on top of) their holding period monthly/annual expenses (mortgage, property taxes, maintenance, etc.) by renting out the property as a short-term rental (more information here in this utlimate guide to short-term rentals that I recently helped collaborate on with some other professionals in the industry) while biding their time for the market to rise as Millennials and Empty-Nest Boomers continue to spike prices as they flock into theses cities in droves.

The problem is that folks read NATIONAL news, when a lot of RE is local.Will rates rise and put downward pressure on housing prices, most likely.

Both involve ARV appraisals with bids from contractors, and both take into consideration the ARV.

Overall we didn't rise as much either.  

Today, we are experiencing considerably more financing requirements than the past, and lenders are learning to actually use metrics to gage a person's ability to service debt and the underlying collateral, rather than simply originate, recycling the loan, then walk away. 100% financing to individuals w/ 600 FICOs is laughable these days, but was a reality in the past.

One additional consideration that no one raised....for anyone using online payments like Cozy....I recently had a tenant that submitted his payment. 

Further, should the current tenant (a single guy who doesn't mind paneling, worn carpet, old cabinets etc) move out, it would need considerable upgrades.

If so, that's a bit unusual these days.Also, with interest rates rising, this is a less than optimal time to seek a refinance, credit issues not withstanding.

I have some considerable cash to invest and have been scouting properties for months in Denver.  

Prices are rising rising rising but so are rents.