Is Denver cooked for investments?

[Mike Nedved]

Hi all - new to the community here.  My wife and I have been following BP for some time.  We've been very methodical and feel like we've reached the end of our research into real estate investing.  

We've decided we're going to focus on small multifamily units that need some work.  Nothing major though, no foundation, roof, or large system replacements but we are capable DIY'ers and don't mind pouring sweat equity into a property to increase the value.

Our plan is to do a modified BRRRR. We want to buy a property that needs some work, refurbish it, re-rent at a higher rate, and then re-sell to buy and hold investors. Our goal would be to build a capital base until we could more comfortably buy and hold.

My question is, for those of us in the Denver market, do you think this is a viable plan or would it be best to sit out this year to see how the market shape up?