There have also been leaks under kitchen sink and bathroom toilet.

Getting your mindset right, setting goals, and creating a strategy are essential first steps to investing in real estate.

You'll essentially have no equity at closing. 

But if a tenant is a good tenant has anyone ever though about buying the lease but essentially signing a new lease with the same tenant for market rent?

He thinks its coming from upstairs bathroom in master bedroom.

Airbnb the master with a private bath and the long term tenant and myself would share a bathroom.

In my case, the gross rents will cover the HELOC and Financing through the bank, essentially purchasing the property with no money down.  

So, I essentially did buy the house!

Assuming that you have to pay taxes, closing costs, realtor fees, etc, and you are left with 300K to invest, here's how I would invest it in the Denver market to achieve your goals:I would buy three large single family homes (6+ bedrooms, 3+ bathrooms) with basement apartments with separate entrances that cost between 400-450K with 20% downpayments in Westminster, Lakewood, Englewood, Thornton, or Northglenn, also, these houses would ideally be separated from the top and bottom (ex. 3 bedrooms 2 bathrooms upstairs, 3 bedrooms 1 bathroom downstairs), so you could rent by the room for a premium on the top rooms, and rent by the room on the bottom rooms or rent out the whole bottom unit to a family.

I finally have a kitchen and bathroom that I like and it pays for itself!