If remodeling work is required then you might need a change of occupancy (don't know how Co Springs handles that - some jurisdictions don't concern themselves with that) which can be challenging.

First off this property is located in a trendy, millenial, good school district, clean neighborhood, low crime, close to public transit, good walking paths and to a popular tourist attraction. 

You'll find more challenges on that than you will on the "Produce the Note" offense that borrowers have tried over the years with limited success.I'm taking an excerpt from a law school publication on the subject:https://www.brooklaw.edu/newsandevents/news/2013/~...

AU is great, we have our challenges here as I guess any market does. 

This is the first time that I have had to withhold more than 25% of a damage deposit, and this is my most challenging tenant.My question was how specific to get in the letter to the former tenant. 

Direct mail is a popular strategy, but it is one of many.

I'm a newbie still when it comes to real estate but if I was looking to buy in an area other than where I lived it would probably be a rental friendly condo near a popular tourist destination.

For me, this is fine and although I'd like better returns, finding properties which yield more than that in safe neighborhoods in the valley is very challenging.

Very late responding to this post, life challenges... but thank you fellow pocketers

The podcasts are particularly popular.