But, the main concern is how little it would take to derail things...The people I am competing with (unsuccessfully) are playing the delta game - purchasing at 7 CAP in a lot of parts of the country, even Mid-West, and financing at 4.5% on 10-year non-recourse.

They want someone competent, licensed and with a demonstrated capacity of successful prior projects to perform the repairs such as gutting a bathroom and kitchen using skills like plumbing/electrical/tiling and basic carpentry.

I need to get with @Joshua Dorkin on this too, obviously I'm a BP addict and have no intention of competing with BP, I'll always be around.Well, some good advice, start with the basics of real estate.LOL, coaching and mentoring offers from experts that don't even have to shave everyday! 

What's the minimum I have to know about any market that will give the average person the impression that I'm competent?"

It is certainly helpful to know of contractors who are competitive, competent and can be trusted.  

As Toby mentioned the CT REIA when you are back home is one of the biggest players out there and is a Guru factory being where Robyn Thompson and the "Fortune Builders" Paul and Than all started.  

A good, competent contractor is not going to react well to his building material prices being audited by someone who knows less about the business than he does.

looking for a competent, real estate investor minded cpa in the denver, boulder area, real estate investors , can you give me a good recommendation???

It is extremely tough to compete in that market as a new investor at the moment.

I just need to run the numbers and see how best to balance either raising rents, sub-metering, etc so that I can keep a high occupancy rate while also competing with other apartments in the area.