My broker is an investor as well, but he gave me access to the MLS...... looking for tips for criteria to narrow down the search results.

Bless their hearts though, they really struggle with getting positive results that experienced note investors achieve routinely.  

All of this is assuming the property is dated and in need of those types of visual improvements.Always keep in mind you are much better off matching renovations of the higher price point within your area, but not doing more.

The following results that I don't understand are:Proforma Cap Rate   6.05 %Cash on Cash ROI  6.24 %Purchase Cap Rate   9.04%What are the acceptable results for purchasing a rental property and what do these terms mean?

The property have become a liability/burden for them and as a result they stopped paying property tax and willing to let the City/County "take it away" from them.  

@Adam K. unfortunately because I'm still a noob in this area I wouldn't be able to tell you the areas that are up and coming but I know that some great living area is Riverdale and of course price tags will match.

Some of us are starting out, some are just getting our feet wet (done a few deals like me) and some have been featured on pod casts like @Anson Young.You can use the search feature to find "wholesaler Denver" and then from the results select people in the left column and you will see all of us that have wholesaler and Denver in our profile.

I'm new to this game and I quickly found that the best source of deals are homes that can't get mortgages because they're to dilapidated.I'm new, I'm still learning, and I occasionally don't know as much as I think I do as a result.

Please research us on Zillow, check out our facebook pages McCarthyRealEstateTeam and see if we would be a good match for you.  

HELOC's typically have floating rates or fixed rates for much shorter than a 30 year term.Closing with cash (or money from a HELOC) and then refinancing later (pre-or post 6 months), will result in less closing costs than closing with a loan and then refinancing later.