You can also require the tenant to pay for and maintain their own insurance.

That'd be easy to google.My overall advice would be to look for a part time job in real estate (either at an agency, analyst intern, mortgage co, etc) while you're a student and if you really want to invest in RE at this point, do it through a REIT or some publically traded company like CapitaLand (an example, not my stock pick) until you have a bit more saved.

I am really looking at the advantages of being able to look at property more quickly and write my own offers.I know there are costs involved with getting and maintaining the license.  

I am really looking at the advantages of being able to look at property more quickly and write my own offers.I know there are costs involved with getting and maintaining the license.

Appreciation is like the stock market.

They have to maintain records, do reports to the group, shop for things like insurance, work with accountant to complete tax returns, etc.  

Really cheap beaters can be great if you can maintain them and if you don't need to rely on them to go really far. 

To wit: this isn't exactly a neglected home in flyover country you are just now buying today at a low full retail price because the local economy is so depressed that no one can afford to own (or maintain) a house...

You would loose the potential for appreciation on the Colorado home plus capital gains tax from the saleIn Scenario B (Refinance); your monthly cash flow would $800 ($300 from house hacking & $500 from Colorado)  You would maintain the potential for appreciation on the Colorado home & also avoid capital gain taxes.  

I've been trying to get a handle on market selection, but for me to be able to do it well, as a part-time investor who has a day job (and then some) feels kind of like picking individual stocks to me.