Tile surrounds rarely have to be replaced if just dirty, bathroom tile and fixtures clean very well unless abused, its usually an aesthetic choice.

One thing to note when looking at the individual markets, you can make or loose money in any market.

My first choice is ALWAYS separately metered utilities for each unit. 

Or allow the individual to partner and take an equitable share of the profits until I can pay them off. 

I have helped hundreds of Buyers, and these days, no matter how many searches I set up for them or individual listings that I see and send to them uniquely, they still seem to want to search on their own and hence do so. 

OR maybe a lot of the rentals in your area were recently renovated, or have a pool, or have amazing views, or a million other things that the property you're targeting doesn't have in which case you have to skew your estimates up or down...There's a million ifs in the data, whether you inspect individual properties or aggregate views of your area.

From here is where there are several choices:Stay put in the primary residence, a single family home, and purchase another property (SFR) to rent This is, slightly, my option of choice I will have a place to live free and clear, and wiggle room & safety in case anything should go wrong.Rent the primary residence, and finance another primary residence Sell the primary residence and split the equity for down payments on both a rental and primary residenceMy least favorite optionIt incurs the most debt and risk. 

To add to the other comments: From what I understand, an agent cannot give you a blank contract because CAR forms are specific to licensed individuals and are a result of a paid membership required to gain access to the forms.

Having an individual invest directly into a family member's dealing using a retirement account may be considered a prohibited transaction.Furthermore, he would need a self-directed account.

For those new to investing in the Denver area, @Chris Lopez also hosts and co-hosts many classes and webinars in order to help an individual find the right investment strategy for the right person.