Other Colorado cities such as Colorado Springs and Greeley also offer good investment opportunities and haven't experienced a shock like Denver- you just have to be willing to search for the deals.I'd love to grab a drink or coffee sometime and discuss your real estate goals and see if we can help each other out somehow.

The areas I currently have properties, or have had them in the past are DC, Silver Spring, Rockville, Laurel, Germantown, Frederick.  

Racoons living in the upstairs, huge water damage across multiple roof lines/walls, everything peeling).

I would factor in other expenses as well such as water, landscaping, maintenance, vacancy, and capex.

Be sure to buy in areas where your compatriots want to be living, not near the pawn shops that spring up like mushrooms around bases. 

And are you positive that the basement doesn't take on water in wet weather?  

Traditional Mortgage won't work on this house, unfortunately, as it needs a new roof and there had been some water damage in one room in the house, necessitating removal of drywall (it was caught quickly and there is no mold or mildew.

The building has many open violations, mostly due to the abandoned store fronts and to water leaking into tenants apartments from the roof. 

The only catch is the HOA is $260 a month plus $65 hazard insurance plus $200 cap for utilities water and lights, internet comes in HOA dues.

We like to put 6 feet of ice and water shield on our roofs instead of the typical 3 feet when we install a new roof for this reason.