Self Storage facilities in the works

[Kyle Begner]

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

I the details that I currently have are:

SF 5,300

36 storage units in multiple sizes

2 small warhouse/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. 

Any advice here? 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.