Absolutely! There are lots of pockets in the Denver metro area that are ripe for this kind of investment. Specifically in Aurora, you can pick up 2bed 2bath brick duplexes from $100K ready to rent. If you have money to put into fix-up the prices get even better. Each half will rent for $700 per month. That will leave you with room for improvements, property management, and cash in the bank to spare. You'll need to secure that 20% financing first, but there's lot's of inventory coming down the pipe in the next couple of months. I believe that the prices will only get better and the rental rates will go up with the REO inventory expanding in April.