Besides catering to Tech students, you have Covenant Health Care in the neighborhood, along with countless doctors offices.

I lived in Rohnert Park when I was a student 20 years ago.

@John Whitridge  Are the typical tenants of the property going to be students?  

Change the locks immediately upon receiving possession, and have the property inspected by a qualified exterminator and treated if anything is found. 

Third, my primary debt (aside from mortgages) is student loans, which is driving up my DTI to the point where it might preclude obtaining a traditional mortgage.  

Ratified contract or not, if they have not paid the contract performances, then IMO the contract is not valid, and they can pound sand as they have not taken possession of the property.

@Jagdish Bajaj  I think it is also worth noting that not all of the faculty, staff, students, administrators, etc. of the Schools and Hospitals in University Circle live or want to live within a 5 mile radius of their respective employer.  

Owner named in possession order is still in the unit so he/she has 30 days to leave.

I have spent these years learning some of the basics via books/biggerpockets and saving money for a future real estate investment.BUT...I have a large amount of student loan debt with an interest rate of approximately 5.5%.

Specific to Colorado:http://www.landlord.com/state-habitability-statute...which states: Running water and reasonable amounts of hot water at all times furnished to appropriate fixtures and connected to a sewage disposal system approved under applicable lawRemedy is here:Upon no less than ten and no more than thirty days written notice to the landlord specifying the condition breaching the warranty of habitability and giving the landlord five business days from the receipt of the written notice to remedy the breach, a tenant may terminate the rental agreement by surrendering possession of the dwelling unit if the condition is not remedied or damages paid.