You can do a 1.0 DSCR but all that means is you do not have a good cash flow asset and you are just holding for appreciation only.The refinance portion will require another appraisal. 

John, you should be able to invest in self storage with self-directed IRA.

@Kaaren Hall with U Direct is also another great choice. 

How have you been making payments so far, to a servicer or directly to the seller? 

This tax is assessed on income derived from the leveraged portion of the real estate owned by the IRA, and also applies on the sale of leveraged property in an IRA.

Selling means giving up an incredibly cheap cost of capital, especially in an appreciating area like 28277.I direct my investors to 28277 all the time for appreciation-focused plays.

Congratulations on setting up your Self-Directed IRA (SDIRA)!

Our primary goal is to retain as much equity in our properties as possible while leveraging outside capital to scale faster.Proposed Investment Structure:Investors contribute 30% of the purchase price and 30% of furnishing/rehab costs.Our LLC secures a new purchase loan in its name only, taking on 100% of the debt.This structure allows us to maintain 70% ownership of the property.Properties will be actively managed to maximize returns, likely achieving higher upside than long-term rentals.Proposed Compensation for Investors:6% preferred return annually.After the preferred return is met, profits are split 75/25 (with investors receiving 75% of profits on their portion of ownership).Profit Calculation:Revenue – Operating ExpensesExcludes mortgage principal & interest, as our LLC assumes full responsibility for the loan.Looking for Feedback:Is this structure fair and attractive to investors while ensuring long-term alignment?

If you want to offer a "rebate" of some kind after they stay up to date for certain amount of time, I'm more inclined to go that way, but in general theres no real good reason to put yourself as the owner in the middle of the utilities unless they aren't metered in a way to bill directly.  

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project.