With that said, there is nothing fundamentally wrong with an up/down style. 

I've been hearing that for decades.That said, the fundamentals driving multifamily are strong, especially in some markets.  

I want to master the fundamentals of valuing SFR and small multi-family properties.

@Hayden Wright higher cap rate is not always better, capture initial equity through value-add, reserves should be substantial and you will likely use them, if you buy off of a long-time owner be sure to budget for insurance and property taxes to be a lot more than they’ve been paying, buy in an area where rents and property values are going up (good market fundamentals like lots of jobs in diverse fields, affordability (wages can pay the rent), population growth, good schools, low crime etc.).

well hate to tell you but BP has been around a lot longer than that and REI has been a fundamental wealth builder for over 100 years.

Those of us that are in the game just fundamentally have a different mindset.

With that will bring headaches, repairs non stop, turnover, vacancy, evictions, etc.I prefer a hybrid of cash flow and appreciation and that’s why I invest in Columbus, Ohio where I can build long term wealth and have good fundamental real estate.

But the Book does as best of a job trying to explain it to a layman as much as any I have seen without a one on one mentor from someone like me.Another issue I have is that there is not enough Economic Fundamentals that are discussed and Analyzed for you to be able to predict the future.

I love both especially Waterloo but IMO the fundamentals aren't there right now.

Reading is FUNdamental (yes I know I capitalized a portion of the word).