Looking for advice on Self Storage Facilities

[Kyle Begner]

I have been trying to acquire a self storage facility since I moved to the SC area.

I the details that I currently have are:

SF 5,300

36 storage units in multiple sizes

2 small warehouse/storage style

2 small office areas

1 2000sf mobile home

built in the early 2000's

needs repairs and TLC

cash flows 3k-5.5k a month net

Can't get the buy to go under 500k but I know the property is not worth that.

I ask for a lot of information but have yet to receive most. I will update this post when I get more information on the deal. 

Any advice here? Do you prefer owner financing, having an investor for the capital, or big down payment and chunk the rest out? Should I keep working on him passively or move on, all other self storage business are listed at 1mil+ and i don't quite have the connections or capital for that yet.