Also, consider structuring the deal as TIC to make it easier buying him out down the road.

And this will prevent a lot of questions or headaches down the road. 

It is a huge house with lots of room in the basement to add additional square footage down the road.

It was a very long road ( over 6 months ). 

Overall what they've done is a road of good intentions that will lead to hell for renters, because the net effect of that will be to increase rents as landlords hedge their bets against undesirable people.

If you've had any experience in the area, I'd appreciate it if you could explain the general reasoning behind your decision making in terms of identifying and acquiring successful properties.

Good luck Kimberly, you've already got your credibility back by identifying your mistake and searching to rectify it.  

And finally, one of the lots will be adjacent to the road, while the other two will be more private toward the back.

I’m interested in pulling some capital out of a duplex I own in the Hampton Roads area of Virginia.

I think it's important to identify your goal, be realistic about what the issues are around it and also be proactive (jumping on here) to figure out what is feasible in Colorado Springs.