If I didn't know the area, myself, but wanted an accurate market analysis, my first choice (if I knew them and they wanted to help me) would be a seasoned investor actively working in the area.

Are my dress choices sound or will they repel potential leads?

1) find a property that would make a great rental property2) purchase and refurb3) get tenant's in place4) put it on the market to see if I can get a good price for it and make a nice profit5) if so great, if not... just hold it as a rental property making passive incomeI mean logically, this makes sense to me. 1st choice: make a good profit off it to get more money in the bank. 2nd choice: hold for consistent passive income.

@Ryan Hollamby I'm guessing the already low purchase prices in Pueblo will dip further in this particular neighborhood.

There is no choice but to talk to an Attorney, as they are exempt from the Act.

The title company is the second choice.

I am the same Ryan as above!

Given an otherwise equal choice I'd always go that way.I think (in this particular situation) that you have a slight advantage in selecting a tenant if you tell them up front that you live right next door (or upstairs) and like to keep a pretty mellow environment.

Hey Ryan- could you explain the 50% rule?

Most of what you need to learn applies everywhere (Inc is usually a poor choice for buy and hold).