Cap rate, pro forma cap rate, cash on cash ROI?

[Aaron McCarty]

Though I’m not new to investing, I am new to formally analyzing deals. And...I don’t know what to look at anymore. When I run analyses, I don’t understand which figure to focus on to see if the investment is a good deal or not. Do I look at cap rate, pro forma cap rate, cash on cash ROI, or does it depend on what type of deal it is (i.e.: rental, flip, BRRR)? Or, in what scenarios/instances do each of these matter more or less? I’ve Googled what each means and I understand, but can’t seem to apply these concepts to my analyses. Thanks in advance!