.- Only a few states restrict source of income from your allowed rental criteria.  

Very true, that's one of the biggest things I've been thinking about too.What if, once I moved, I could rent the house for $1,200-1,400/month or so.

@Scott Lyons hopefully the building you analyse on You can get financials from current owners and check their sources.

Furniture and renovation financed by HELOC, $27,000 @ 4.5% over 5 years = $500/moRent - $3,000/moPITI + PMI - $1350/moHELOC loan - $500/moUtilities - $350/moMaintenance + CapEx - $400/mo (Roof and windows are new, exterior is brick, HVAC is all-new)Cash flow - $400/mo (18% COC) This return does not include equity capture of $260/mo from mortgage paydown (boosts return to 30%), appreciation (anybody's guess, but at least the rate of inflation), or the biggest of all, rent avoidance for our daughter of at least $550/mo (boosts return w/o appreciation to 56% annually).Besides the great returns, another reason for buying the house is the example of living in a money-making house to get our daughter comfortable with house hacking. 

In Denver, the biggest employers are the airport, hospitals, universities, and financial institutions.

In a business where recommendations and reputation are the source of the next deal it's important to me to be fair out of the gate.

Attractions are fewer, with Biltmore being the biggest draw, although the Sierra Nevada and Anheuser-Buscher breweries do ok also.

Is there another, newer drilled will on the property or is that one pictured the only water source?

I have no problem working and stepping out of my way but (and please correct me if I’m too naive) I feel like having a job on top of school and covering multiple sources of income would limit my time on working towards those goals and studying the material.

Sourcing and seasoning deposits into a business account is not needed for Fannie/Freddie loans (assuming that's the loan type you will use).