or single family)- close monitoring of initial investment, minimal money down2) BRRRR in Denver area if feasible, considering out of state- Focus right now is getting pre-approved for FHA financed property and close on an attractive deal.

A friend suggested that, if my father were to sell me the property well below market price, we would reap the greatest tax benefit because he would minimize his capital gains taxes now and later taxes as he passes on his wealth to his loved ones. 

Backsplash in the kitchens, nice floors in the bathroom (small areas, so the cost-bump is minimal), and updated lighting in some key areas (like the dining and living areas) go a long way.Basically anything you can do to activate that "Ooh, that's so pretty"/HGTV part of the brain, while being budget friendly, is a win. 

We had issues with closing a deal because the sellers were not willing to fix major issues that we asked for (we walked away with 3 so far and wasted our time and money).

@Greg Scott I just don't want to waste my hard earned money on something that looks bad haha.

It seems like you have definitely run everything at a worst case scenario rate which is great to minimize any surprises, but don't be surprised if you have more cashflow than you expected based on your assumptions. 

We also want to minimize the likelihood bad tenants.Any advice is much appreciated.

If there was minimal or no impact, it should ease tensions.

I've always let those type of situations be dealt among themselves, and I'd only advise (minimally) as a 3rd party but not as a landlord.

By attending meeting (which maybe you already have and I'm wasting your time here) you show others that you are committed to learning and taking the first step.