You can loose a year of cashflow very quickly to unexpected roof repairs, furnace or air conditioning replacements or even exterior painting for a random C of O inspection or a shocker come tax time.

He couldn't provide me the rent roll but saying the customers pay cash to the owner, which I think it's a bit suspicious even though he claimed the cap rate with the Excel spreadsheet saying it's over 11%.

I ended up being in contact with what I feel is a really good real estate agent (asked me my why, always tried to provide as much possibly without me asking, and provided information I asked for fairly quickly).  

I really want to move quickly here and the funding is the only thing holding us back at this point .

Greeley may be a little better than other places on the front range but as Dan said there is a lot of “stupid money” here right now, and Greeley is quickly becoming one of the hottest markets around.

If not start shopping around quickly.

Cash allows you to move quickly whereas traditionally financing can take up to 45 days. 

When you do find the perfect property, you want to move quickly.

Long story short, I was able to convince my original installer that I deserved a new coil and free installation because this was obviously a manufacturer's error (Lennox lost the suit) and I as a customer should not have to bear the cost of their mistake.

Most of the new builds are going in on tiny lots in packed-in neighborhoods.If you can find a decent size lot (my idea of decent of .4 - .7) that is reasonably priced, and remotely close to anything, and would accommodate a custom home, custom homes are not cheap right now - they really never have been "cheap".