Agreed, good fundamentals in place, but what do you think of all the folks buying in at record low cap rates and what I suppose is a peak (or near) in rental rates?

So perhaps your market is fundamentally different from mine.

Control and eventual ownership of one and three quarter million dollars worth of real estate, for just seven thousand dollars down, is worth a look in my book.Especially when the fundamentals suggest that your tenants (paying you 1% gross per month) would be paying all its ongoing expenses, mostly! 

Can someone direct me to  the info where I can learn the fundamental metrics required to get really good at analyzing a good vs bad deal so I can make the appropriate offers? 

No one know exactly whats going to happen. each market has its own local economy ans supply and demand fundamentals.

There are other markets with higher returns on turnkeys and better market fundamentals.

My criteria for properties is always 1) numbers and 2) market fundamentals.

In your example, I'd have to ask the question 'has something fundamental changed about your city to merit the lower 100 basis point drop?'

Coming from a tech background I find it easier to understand tech fundamentals better than other industries.

Way more than the numbers...market and neighborhood fundamentals are huge.