Get ahold of me if you ever have questions or need additional help. 

Additionally, they are readily available to offer advice and to make strategic changes that will benefit the project.Make your project as painless as possibleAnother benefit to hiring a general contractor is the fact that you can relax.

I have an additional question though.

Additionally, if anyone has any ideas on how to find market lease rates and companies or firms that build steel warehouse buildings that would be greatly appreciated as well.Cheers,Mike

The cap rate is still at 10%, and assuming other buyers in your market would only pay $1,000,000 you have additional risk.If you are analyzing deals involving cap rates, it would be highly advisable to consult with a commercial broker that knows the local market well.

I have been listening to the podcast and am getting really excited to learn all about the different ways to earn additional income as a real estate investor.

Keep the rest (117k) for savings/additions/whatever else/maybe pay the monthly mortgage??

It will vary depending on if its your first use or second use.Also there is a hack because if you absorb it, yes you'll end up with a higher rate temporarily but 6 months of good on time payments later you can always do a VA IRRRL down to market rate again and VA IRRRL (interest rate reduction refinance loan) have a much lower VAFF of .50% so its much easier to drop your rate.

Failure to do so results in having to refund the entire security deposit, PLUS an additional 100% of the original deposit. 

In addition to the local REIA's, check into local real estate Meetup groups (Meetup.com) and there's also area-specific Facebook groups.