I may put less emphasis on my own property management expense, but I'd still want to see it in my spreadsheet. 

I am currently based in SE North Carolina and am looking to get into commercial real estate with an emphasis on 8+ unit apartment buildings/self-storage/carwashes!

He's a real estate attorney with an emphasis on syndications.

An appraiser will use both methods: The comparable sales (comps) approach, and the income approach, when valuing the portfolio (and possibly a third approach as well: replacement cost).Then they will assign a weight to each derived value (probably with a heavy emphasis on comps, since these are SFH) and then determine their professional opinion of the value of your portfolio as of a given date. 

I also went to college, not that it is mandatory, and I got a business degree with real estate emphasis.  

I have a bachelor degree in Business Administration and my emphasis while in school was real estate.  

I've owned several (6) homes (sequentially) over the years, but not much emphasis on investing, more concerned with family (3 kids).

+Migration of middle class from expensive to cheaper markets; a significant movement of wealth+Differences in state taxes and incentives for businesses to relocate jobs+impact of technology on the labor markets and Growth of primary and secondary tech centers +Changes in the labor market to predominantly a service economy, with emphasis on technologyI personally believe that prices generally are exactly where they should be given the variables above.

I'm not an attorney, so I'd suggest before you get too heavily involved in wholesaling (especially once you get your RE license) contact a real estate attorney (emphasis on a REAL ESTATE attorney, not just any attorney), set up a free consultation, and let them brief you on the license laws of your state. 

Background:I completed my associates degree in information technology with an emphasis on networking, and I achieved the CCNA certification (Cisco Certified Networking Associate)My first job in IT was running the IT department.