Now if you've followed things this far kudos, and I bet your feeling some lumps.

Be careful following the advice of strangers on the information superhighway.

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

As I have said they can throw people out for negativity so you will unlikely get a true and honest review from anyone in a forum like this. these training companies just follow MLM tactics  ala Amway etc.. right down to the sell the product make money. its all the same marketing just the product is different.

My question would be is a 6 cap the going rate in the area for that building.

Know the rules, know the tenants, know how to get paid and know the repercussions.

I stop following him years ago.  

The real skill is understanding the variability and risk in each number which is not always numerical or scientific.

If the premium is worth the convenience for, go for it.

Many have zero experience with the community and don't understand the culture.