I'm okay with this reality, as my stock market gains look like crap after Trump's trade war (hoping that has changed by the time you read this).

I think for him the 10 months might include land use and permitting.. just guessing of course our build time for this product here in Oregon with all our weather is 5 to 6 months.. its really organizing the cats you know sub trades ... but we have a snow day or an ice day and that just plays havoc with the scheduling.

You have a few options, 1) be patient 2) Give in and join them and pay up or 3) Find other asset classes to invest in.I am not patient and am too scared to pay the prices they are trading for these days so I have gone to number 3 for my personal active investments.

As a market matures a real estate investor likes to become patient and choosy - two characteristics that may not be compatible with a board of directors of a  publically traded company.

Try to look at publicly traded real estate developers, they may disclose some similar project budgets, but be aware that doing a project of that scale requires and lot of political connection which may increase or decrease your cost.

This would provide more cash flow and mortgage support (usually)Your first time home buyer credit should cover most of your FHA requirements even on a 4 unit.Or maybe just buy bitcoin and wait six months so you have more money to play with

I think this is achievable either buy continuing to collect 3-4 unit properties,  or in a trade-up to a larger property.   

Currently, do not have much capital but willing to work and learn all tips of the trade to get started.

For SEP and qualified plans, net earnings from self­employment is your gross income from your trade or business (provided your personal services are a material income­ producing factor) minus allowable business deductions To learn more about self-employment income rules, see the following. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

So for example if you're looking to buy an apartment in a B class area, talk to brokers and see what other B-class apartments in that area have traded at.