To them, Denver's downright cheap.This is obviously not the sole metric used to project future price appreciation. 

For flipping, there's the allure of higher future income and property value, but beware of the construction costs, time investment, and market uncertainties.

I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property.

You can get help from ChatGPT or Jasper AI if you don't love writing.

The very first day we walk the property, my agent and I spend a LOT of time under the house looking at plumbing, wiring, HVAC, and structure, and we write down a list of all the issues we find.

As for the financing it is personnel decision but I believe the thing that separates RE from other investment options is the ease to leverage.  

I just found out that someone tried to break in my Indy Class #2 home (currently vacant) but the alarm scared the intruder away.Here is what I replied to someone in NYC looking at RE investing.

I will be able to cash out my original down payment + 30k more if I wanted to but as im going through the process I was wondering in the future if I pursue investing full time how do you still get approved for mortgages?

(Ask me how I learned that one)With a note/mortgage you have zero liability and it's much easier to sell the note for cash, should you want to in the future, but you give up control/ownership. 

I hear the terms like leverage, future growth opportunities here, diversification but not fully convinced.