So that being said, my question is this.There is a city south of me called Pueblo, CO, according to the same site rent looks like this: 1 bedroom: $6502 bedrooms: $7653 bedrooms: $963Would it be worth it to start off living there and invest in Pueblo with the eventual goal of selling my Pueblo properties and buying a few in Colorado Springs?

Goal: Hold for 5-7 years then trade up.

Commercial (large apartments) are my end-goal, but I don't really have the cash for a down payment on a commercial loan right now.

hi,relatively new to the game. i have a property with good potential in an area i think will appreciate well. in my current situation, i am not strapped for cash and can save 7-8k month for real estate purposes alone with my current job. this will be by first SFR and goal is to have at least 12% COCROI and have a minimum of $150+ using the 50% rule. im more or less in it for the long term game and want to retire with a rental portfolio that can supplement my income within the next 10 years. here are the two scenarios for the following property:property: $65krehab costs: $10kclosing costs: $3,200wholesaler costs: $2,500i plan to put 20% down on a 30 year fixed loan at around 4.8%Scenario 1:I cover out of pocket for rehab and wholesaler costs as well as downpayment + closing costsProperty: $65kRehab: $10kWholesaler costs: $2,500k Downpayment: $13,000kClosing costs: $3,200Total cash needed: $28, 710COCROI: 12%Monthly cash flow: $28850% rule: $313Scenario 2:I finance the rehab and wholesaler costs through my bank.

If your goal is security (inasmuch as any investment can be secure) and reliable cashflow, I'd just go TK.

My goal is to flip houses and also build a portfolio of rental properties.

A great way to pay down your mortgage faster if that's your goal.  

It's more important to start with where your financial goals are...and I don't mean "I want to flip this many properties and hold this many at the end of a year".  

If you choose to keep him around a few more months then modify this again to let him know you are not renewing his month to month lease effective on this date and his last day in the place is "blank". 

Hi Ron,It really depends on your investment goals and how much time/money you have on hand.