To give you something as a reference based on your budget (30-40% down with $1.8M), the general cap rates you will see in the Bay Area are roughly 3-5% https://www.loopnet.com/Listing/1047-Rich-Ave-Mountain-View-...https://www.loopnet.com/Listing/1180-Saranap-Ave-Walnut-Cree...You will find higher cap rates and more 20+ units buildings in SF, Oakland, and Richmond, but keep in mind of their stringent tenant laws. 

Every one of the owners he is under contract with will tell you to run from this builder (law suits in the works).  

You need to think about not just the potential income but also the potential problems such as city ordinances, state law, insurance, potential eviction issues, etc.

And then if you get a squatter in a pro-tenant law city, it'll be a long process to get them out. 

Is it not the actively working and realistic practice used all the time?

And in the modern era, real estate and stocks returned practically the same amount (within 1%).

It's a detailed perspective on how private lending works, with practical strategies for building wealth through this niche.

That's not a guarantee - some of those people may be breaking the law too - but it gives you a good idea where to start. 

The reasoning from 2 was COVID and another said they changed the laws response to 2008. 

It's good practice in making the calculations needed to decide whether or not to pull the trigger on a potential deal.You soon learn that starting off as a Doctor is less advantageous than starting off as a Janitor, because the game presets your income and expenses based on the job title.