I am a residential builder and commercial is not my strong suit, although some of it does translate.

Because that book has a substantial number of charts and tables it would not translate well into audio format.

@Ben SmalleyFunny how sarcasm doesn't translate well. 

The nicer the accoutrements usually translate to a higher per night depending on location. 

That translates to lower loan amounts and LTVs (ie 60%).

If you can translate these risks into relatively quantifiable numbers they are easier to manage. 

Personally, the only reason I would be investing in an area besides my own is that my money would translate better in that distant area, so if the 1% rule is really hard to come by in Richmond and they go fast to locals buying all cash...and you have no real reason why you are choosing Richmond (i.e. family there, friends there, contacts there, love the city, have history with the city), then why not go where there are deals that can still meet your criteria...and that goes for all over the country not just Hampton Roads.

Investor sentiment, in turn, is what sets prevailing prices (i.e. prices that investors are willing to pay based on their required ROR and risk tolerance) which, in turn, translate to a certain cap rate.

And I am willing to share with you what I have so far.Direct observation of how you and your business translate knowledge into concrete actions that build the business.The unknowns!

You could simply pay someone to translate or they could bring their own translator.