I think Denver stands a better chance than most to weather a FED hike with no ill effects.

I always try to maintain the philosophy that my tenants deserve privacy unless they are damaging the premises and hurting other tenants.I also have regretted whenever I've stuck my nose past that line and tried to give them advice.Domestic violence is a tricky one though because they aren't damaging the premises or (usually) disturbing other tenants.  

Great Question RobertI would suggest you look at the money you would have to spend and go with the most cost effective plan that makes sense for you.

a revised drawing will have to be made for the effected areas and then submitted to the building department. you can usually continue with the work while they review it if it is minor interior design.. 

One of the reasons I like real estate is the local influence on prices that at least buffers some of the outside effects of recession & monetary policy.

@Gary KuhnThis is interesting from a management perspective, we charge investors a small fee to maintain an administrative account for their tenant because there is some extra administrative work when there are additional occupants.

Its cheap (or even free) and effective. 

Found BiggerPockets through Reddit, looking forward to leaching all the pro knowledge I can to start and maintain my Wife and I's new interest in Investment Properties.

., however we find it to be pretty effective on dialing in what should and should not be considered. 

Two other very important factors not mentioned or given short shrift are the 1) high unemployment/underemployment rates and 2) the dampening effect that the housing crisis has on people's propensity to buy.