So we focused on NC & VA, as we find both much more landlord friendly, translating to lower expenses and higher profits, much less headache and still within our preferred driving range. 

I've been operating for a decade this March and truly I wouldn't change where I own and operate.Still it translated to my being a darned good PM, I've already cut my teeth in some very difficult neighborhoods.

My experience doesn't translate well outside of Chicago.  

It translates into what people can afford for rent.  

My major strength lies in data analysis and manipulating databases (SQL,R), thus analyzing trends and data is a strong skill of mine, which I am hoping will translate directly into REI.

It will translate into more money in various ways even if that isn’t a higher monthly rent .

Whether that translates into a rent premium is what started this whole forum thread and still up for debate.Mathew

Translation - non-institutional. 

This translates to a cap rate of about 8.5% which is about twice the local going cap rate in this part of the City.

Leading indicators of rig count (now <500) and building permits (-31% Y/Y) have translated into current losses (updated 3/4/16) per http://www.houston.org/pdf/research/quickview/EconomicIndicators.pdf The 14.1% drop in retail sales Y/Y should be alarming.