To me the interior looks fine and has plenty of rental life.

To protect my investment I always get a Home Warranty for rentals.  

Look for areas with high need for rentals, growing numbers of people, and rising business activity.

For a rental, I can see replacing or repairing a unit being deductible as expenses and property improvements.If I am going to be wealthy someday, I do not want to have to wait two weeks for someone to fix my AC when it goes out in my house, and I do not want this for my renters either.

Purchase price: $194,500 Cash invested: $51,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

Some other great resources I recommend as a real estate investor myself are: "Rich Dad Poor Dad" by Robert Kiyosaki, REtipster (www.retipster.com), and Rental Income Podcast with Dan Lane.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

My goal is to ensure a positive and stable rental experience for both parties, especially in Colorado's evolving rental market.

Purchase price: $212,500 Cash invested: $50,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

For fun, I also added a column for monthly cost for 'Present Value', which does not account for inflation.That said, my Present Value monthly cost for my rental that rents out at $1950/mo is $208, which is about 11%, or close to the recommended 10%.