If they go up the year after you buy for more than you paid you can easily protest yourself, show them the closing docs as well as any pictures of the property (the worse the better) and they will usually lower it to the price you paid since that is the true market value.

I will look into landlord tenant laws and start my funding venture.  97% of the asking price is high but then again if I can get a good MFR the rents will more than cover the monthly expenses, at least from what I have seen on the rental market. 

You could just cover it with 1/4" drywall effectively covering. 

Ok, that sounds great and we would definitely cover that requirement as we would plan to utilize the property personally likely around 4-6 weeks/year. 

I currently have a rental that has the kitchen in the rear of the house (Check the current layout picture).

That may or may not cover your acquisition and rehab costs. 

@William Larson Make sure your insurance policy covers your complete annual rental loss.

The security deposit covers borrowers credit check and basic administrative costs before the loan transfer will be initiated".Any thoughts on this maneuver?

Being a tenant for 3.5 years the unit was accepted with the original paint I never re-painted nor did I ever use pictures, curtains or any wall fixtures given the apt was very nice and I didn't want to have issues when I left.

**A quick reminder that the key to Denver's Airbnb law is that you can only operate a short-term rental in your primary residence.Big picture: The primary residency provision is generating a lot of complaints to the city.