You might also consider co-sponsoring your first few deals, to get some deals under your belt without having to do all the heavy lifting yourself. 

Others look for BRRRR-style projects (buy, rehab, rent, refinance, repeat) to recycle their money into multiple deals.You can also explore my Co-Investing Club, where members pool smaller amounts to invest passively in larger, cash-flowing real estate deals.

In our co-investing club, many members have invested in mobile homes, and I’ve personally invested in land, having both together can be a powerful combination.

Option 2) Find a co-borrower who has cash and is willing to pay cash and you do the work.

Personally I rather gas in my home, but for a rental I would put electric because they are cheaper, safer (no possible leaks or CO), and they are cheap to repair.  

It also regularly puts out deals at that are typically low 65% LTV, high 10%+ skin in the game/co-investment etc.They market under 506B so are prohibited from posting publicly on the Internet and instead function by referrals.

I'm in Colorado.

As long as there are no unpermitted conversions or anything to suggest co-living spaces, you should be fine.

If you aren't 100% committed to the idea, consider joining a co-investing club and going in on passive real estate investments with a community of other investors.

Before offering: pull sold comps within tight radius and year‑built, call county on open permits and CO, check HOA or subdivision limits, and walk with inspector plus GC during your 10‑day window to lock scope and renegotiate if needed.