BP has gone downhill in quality as they keep publishing bad blog posts as books. Pro Tip: if you're new, watch youtube videos, don't pay for niche books that won't help you, especially the BP line of books. If you're seasoned, you already know this.
Re: Real Estate market cycles - they don't matter. A deal is a deal. If you're a long-term investor (10+ years) the cycle doesn't matter because you're not leaving the deal, you aren't worried about appreciation because you're cashflowing while the market dips. It happens. If you're a short-term investor (flipping within weeks/months), the cycle doesn't matter because you're buying and selling based on what is a deal right now.
But if you're worried, I'll save you five bucks:
There are 4 stages to the RE market cycle -
1. Recovery (high vacancy, no new construction)
2. Expansion (decline in vacancies, new construction)
3. Oversupply (continued new construction, rise in vacancies)
4. Recession (overbuilt construction, decline in occupancy rates, rents go on sale)
We seem to be in stage 3 entering in 2020. Cap rates are compressing and lenders are getting more aggressive. This is important if you're starting to work with banks/getting into new development.