I believe that list of tasks for Colorado includes:-Setting rent-Negotiating lease terms-EvictionsAnything else?

The new mortgage on the new $340k duplex home which is an FHA loan is going to be a monthly payment of $2800 and we will refi ASAP (the current rate is 6.7%) when rates go down.We have done some nice improvements on the SFR and will be refinishing the wood floors before a renter moves in (July 1) so feeling like it's a great opportunity for the right long term renter and we plan to screen prospective tenants well.We are taking a $20k HELOC on the SFR for the downpayment and plan to pay that off within 12-18 months.

Assuming that no debt is involved, Is paying that cost necessarily better than paying the tax on your long term capital gain in the property?

Granted the terms I offer a lot of the time aren’t amazing (they have very low interest rates), but that’s the only way I can make deals work.

I just don't really recommend selling a property that you're doing well with in terms of rental income and appreciation. 

Do they want longer term holds, targeting cash flow or appreciation?

I have rented my properties by room while I live there and turned them into long term traditional rentals at move out.

So far I haven't had any issues with these tenants - they're either high income earners or long term tenants who take care of the units.

To build long term wealth he can buy into REITs or syndications.

I'm looking for an exit strategy , if I did decide to use my heloc to purchase the property cash any thoughts or suggestion on an exit strategy. or maybe something you did, My long term goal is always cash flow.