But at the end of the day, most markets in Colorado are long-term buy-and-hold type places.

Some carriers will allow you to elect ACV (actual cash value) coverage, but you have to be aware of lender requirements and coverage concerns that come with this type of policy. 

There are two types of 'returns' that you get with rental real estateCash-flowAppreciationIt appears that currently the cash-flow is lacking, however, the appreciation was strong the past 4-5 years.If you thikn the appreciation will continue to be just as strong, I would consider keeping it as a rental.If you think the appreciation will be flat, negative or low, you may want to consider selling it and getting a better return elsewhere.

There is no rule or guideline as it completely depends on the condition of the home, the area and the types of finishes you do. 

If you are in a closed-end fund and relying on "pref", "Class A" or other distribution type you may be in for a rude awakening with some operators (again, the devil is in the details, aka the OM/PPM).

Tools I use for my STR business are Hospitable, Safely, & Touchstay.Important note to consider:If you're the go-getter type with time to spare and want to be hands-on, I'd recommend self managing and capturing as much revenue as you can by implementing tools like PriceLabs, Hospitable, TouchStay, etc to run a more efficient STR!

Hey Jason, Welcome to the Forum,What type of investment properties are you interested in?

These loans are not typically available in your traditional banks, however their are loan brokers out there who specialize in this type of lending. 

Estimated Monthly Rent to be collected is $2,550-$2750/mo giving us positive cash flow of $67-267/mo in year one on Lot 2.What we do on Lot 1 will depend on zoning and the type of property we will be able to construct.

Is there any type of expense associated with that, i.e. does the landlord require the space renter carry a certain type of insurance, are they responsible for anny HOA/maintenance fees, taxes?