I've never been to one of Dave's events, but many of the guru events are a similar song and dance. 

If the property has under market rents, cost savings to be had, and other drivers to blend the cap rate up besides annual rental increases then they will look into the 4's for going in cap rate.Lately more focus has been on student housing and senior housing as cap rates seem to be higher and potential for rent growth over time seems to be better versus regular multifamily is almost peaking for rent to income ratio's. 

Don't beat yourself up too much for going over budget, it's a learning process.

@David Song Thanks David.

Also just for the record owning/financing a solar system is superior to leasing in my book partly because returns are better and for other reasons as well, but in the case of investment property when the owner can’t claim the tax credit, then in that case leasing is currently the best option for going solar.

Will I be effectively forgoing any ability to get a mortgage by not having any income or dramatically drive up my income rates?

Last year while interning, I began my 45 minute commute where I decided rather than listening to songs on the radio that I've heard a million times, I should instead be using the time wisely and educating myself. 

It's kind of funny to hear Calabasas/HIdden Hills being shouted out in rap songs by Drake.

Now you just decided to not honor what you previously told them and are refusing to leave, and think they should just forgo the plans they had already made for the unit. 

If there aren’t any other signs of oil tanks, I would forgo the radar scanning.