However, I was able to raise over $100,000 from friends and family to begin investing in small multi-family deals, and I 100% put this down to my drive and passion for the industry and educating myself as much as possible.If you are 100% committed to something, success will follow.Good luck!

My rent comes from a diverse collection of businesses and industries, all stable.

Appraisers, agents, and others that have seen 1000s of transactions, is this a normal but ugly and accepted practice that will hopefully will be changed in the appraisal industry?

If you have experience and connections in the plumbing industry, you can take advantage of properties with plumbing issues that have scared other investors away.

Last I saw, the industry average was 90 days. 

Generally, I would think that commercial real estate (especially B and C class industrial/warehousing) would be less averse to the close train proximity then residential.

As other PML business owners here have commented, this isn't uncommon in our industry but you can certainly find local or regional banks that would be easier to do business with and not require an audit - haven't heard of this before.

This might be modeled like Industrial outdoor storage. 

I originally posted this a year ago and I am happy to share the results in a comment on this post, but before I sway anyone's opinion I would love to hear your thoughts...So with that said, historically the industry accepted standard for underwriting a projected exit cap rate is the market stabilized cap rate plus a 10 bps for every year held.

The lack of communication from poor agents or PM's is nothing new in this industry.