The space should accommodate your family comfortably, so if it meets your family's needs, it could be a good fit.When considering your third property, think about what works best for your family.

Plus, it’s a good habit to get into for your own peace of mind.Many of the answers here are very solid.

From an investor standpoint it is very tough right now as there are not of a ton of good deals out there.

Yes, 100% you are allowed 90 days for occupancy and the lender can also grant additional days based on legal issues so long as they know and are made aware. 

I'm not concerned, but it's always a good idea to have cash reserves.Our Lake House was perfect as an escape and still have fun stuff to do while staying away from people.

Happy to chat anytime, just trying to get my feet wet again after a long break from investing.

I tell them if I evict them, I will attempt to garnish future wages for any monies owed including the cost of the eviction and that good eviction lawyers are not cheap.  

If you now a good contractor who's capable and honest, please refer them to me (here or DM). 

Also is this for a long-term DSCR loan or a bridge/ rehab loan?

Rehab/remodel and selling is usually a decent exit strategy in Colorado, where good/quality inventory is always low.