Looking at properties that are in the price range of $150,000 and renovations to cost $50,000.  

They might stay longer with the reduced power bill.

On the other hand, parlaying my existing equity into a portfolio of 3-5 cashflowing properties in the $100K range (with 20-25% down) in other parts of the country -- places like Memphis, KC, Charlotte, etc -- is attractive because if I get in with the right Turn Key companies I could use my cashflow to continue to acquire additional properties over time and leave the details to the professionals.Are there other strategies I should consider? 

Can't hurt to ask.Someone else might chime in with a benefit of one loan, but I feel it gives too much power to the bank.

Kris Freeberg if your investors are in the 1-20 unit range I have been using truerent.com$10 a month and I am happy with them.

I like it because I am able to search based on my desired zip code then narrow down the search by entering in specific criteria such as bedroom count, equity %, median price range, etc.

It is pretty loaded question and a ton of people on here have a wide range of experiences and expertise.

Since you have the liberty to decide on the layout, consider the best placement for the appliances first and what they need for proper ducting, power, water and gas (if applicable).

I am currently in the process of completing my power team, but am looking for recommendations on locating a Title company that specializes in assignments and double closings and a RE attorney to review my contracts and make sure that they are state specific for Colorado.

You could still have a case of equitable interest and, with a sufficiently knowledgable tenant/buyer, may end-up exercising power of sale or foreclosure to regain possession.