For a lower entry point, Thornton, Aurora and federal heights are good places to start. 

not a great deal compared to buying 5 year term first trust deeps on performing rentals that pay 9 and 10% and you get paid off in 6 months then what .. no return.. until you find another deal so your drag on money turns your return much lower.. now if it was 10% or 7k over 6 months that would be something to think about.. but not an interest rate for such a short duration.

Stress test your business, how long can you survive with no rent and no personal income?

My only concern would be a drop in the economy and not being able to cover costs in case I had to lower rent. 

But the numbers made sense and we really felt if we did some great work (and add our first pool ever), we'd get what we need to make a profit and have a great portfolio property going forward.As many of you know, I've had a VERY stressful project over in the Jefferson Park HPOZ neighborhood, so this kept us busy while that one has been on hold. 

Lower to market n you'll have a tenant by next week Thursday. 2.5 Months without rent is $5,000. $65 a day adds up fast. 

You could lower your down payment and delete the closing cost by getting the home Owner to finance. 

Also, if it has been on the market for that long- over a year, then I would offer a much lower cash price.You didn't say what the rent was either? 

Over time, I suspect I will become more conservative and have more equity in my properties, lowering the RoE but also lowering risk.HTH

Also, say the economy tanks or the interest rates are just really high after the reset, I can ride the storm out better I would think with a conventional loan since it would require lower payments than the conventional loan.