It has an advantage to a real estate investor in that there are a lot of nearby attractions that draw visitors, Sporting Park, NASCAR track and the Legends shopping district.  

This is why private money is such an attractive option in investing!

It may be cheaper to just lay that out over the pad, and given that it doesn't require watering, it may be an attractive option for a potential buyer - plus they can always remove it at a later date...You can get most types of turf for around $3 a square foot, which will be cheaper than removing concrete and installing turf (and likely some type of irrigation system).

They turn out a good, attractive, consistent product. 

Probably good to design in a chase or just run likes for future split AC while walls are open now.There's one big 4bd/4ba unit that I'm trying to position as attractive for a future owner occupant should I decide to later sell, which is mainly the unit I'm dealing with here.

But RE definitely offers more incentives than other businesses and therefore can attract cheap money, banks, institutional REITs and other large sources that helps build class-A apartments, hospitals, offices etc. 

I see nothing wrong with Phil asking for the money if he is trying to link together with other well established investors from around the US, but that does sound kind of steep for someone who is more than likely just getting in the game, as his training courses would attract new people rather than established investors, who really do not need training usually. 

As @Karen Margrave pointed out, it's really just connecting enough attractions and potential conveniences any vacation renter would want.

It seems like this price generates an attractive rate of return, but I have some concerns about the long-term outlook and liquidity of the investment.Some of my concerns:Quality of tenants - this town is generally lower income, and the building is in a lower income area of the town (low of the low).  

Yes, 60%+ returns are attractive but investors need to do their homework on the area before the buy.