For some reason, this hasn't translated into my friends trusting me to handle their transactions. 

I'm not saying don't ask I'm offering another avenue of research.Pro-Forma translated to english just means what the property is projected to do.

His translation is brilliant."

-student loans are a racket. if you can afford to go with minimal debt then it may be a good investment for you. if you have to take out a lot of loans i would suggest get a degree in something that translates into a good job, something like accounting, hard sciences, that way you will have a good shot of being able to pay off said loans soon after graduationConsidering your position with your mentor.

A "Bad" location typically translates into lower rents, more tenant-related issues, and potential safety concerns.

Often the posts refer to wanting a 'small multifamily' which, over time I have learned, translates for them to property financed as a traditionally underwritten 1-4 Family, owner occupied dwelling. 

Maybe on your larger-scale acquisitions you can translate that to the seller feeling like he or she is helping out your investors.

Translated:  Better cash flow than a SFH, easier to rent in a real estate downturn, better tenant quality than a 4 plex and appreciation is viewed as icing on the cake as I don't plan on selling in the short term.  

In other words, will owning and operating smaller family homes translate into the larger multi families or is it a completely different game?

This translates into serious incremental return.