To make the best choice, consider your time commitment, risk tolerance, and do some research on rental rates in your target area.

I paid for the year upfront for cheaper rates, and check it weekly.

Option 1: interest rate between 10-15% with a max of 18%.

It currently just breaks even with today’s interest rates and reported expenses and therefore wouldn’t meet my requirements of being a cash flowing asset.

When my broker shopped the policy we found a slightly lower rate for same coverage.

Here's a quick snapshot from the COVID outbreak of early 2020 to February 2024:Key TrendsCondo prices: 📈 65% since March 2020Single-family homes: 📈 75% since March 2020Rapid appreciation mostly in 2020, stable/slight gains sinceMarket resilience despite rising rates and insurance costsAI stock market-fueled wealth could drive more home purchasesMy Prediction:Prime single-family homes: Prices remain stable or increaseCondos: Flat unless truly distinctiveThe Big Question: Are YOU ready to buy or sell?

And the rates are coming down, wait for a better sale price when is completed.

They can help you to have realistic expectations on rent rates in the area, especially if you're planning on have a PM manage the property.

Quote from @James Wise: 90% of Realtors are just Future Uber Drivers.... 100% wrong.The failure rate is 87%.

Not much land at that price so you either need to head to the fringe where the cheap land is or find property that can't be used for a 1,200 sqft home (sale price $360,000 land cost of $90,000)As @Dan McDougall mentioned there are not an insignificant number of small condos <600ft^2 in the market.The MLS has two small homes in Globeville.