To be honest, in my preliminary research I hadn't given them much of a look but I will now.   

He’s also violating minimum wage laws....which requires a tipped employee to be paid 40% of the minimum wage rate, which he clearly is not doing, at “$300/mo payroll”.Your weekly check should Clearly show “hourly/weekly Pay” verses “Tips”.

The competition seems stiff, and with so many sharks out there sniffing out what deals may be, I'm trying to wager whether this is a game that I can bring value to and/or any edge that would make it worth the energy.Don't get me wrong, I'm 100% open to F&F's in this market (or B&H's), but I know that I need to know the rules, stakes and potential benefits before playing.

But the initial rate quotes are helpful to as a placeholder when running some preliminary rental numbers. 

The preliminary title search or report must also confirm no liens on the subject property.

It's hard to even put a preliminary cost on the development until you at least get through the conceptual stage. 

Have you reviewed the preliminary title report from when you purchased? 

If you like, you can certainly go to my site or google 7 search the internet to see what I or others (including Inside Self Storage, Self Storage Association, & other articles say about it) at least to give you a preliminary idea as to what will need to happen so you have a decent idea and can therefore build upon that foundation.I'm a big fan of "aces in their places" , so if you don't have much experience in Self Storage Management why would you want your multi-million dollar facility in the day-to-day hands of a newbie?

I'd wager that properties priced close to their final sales price are selling as quick or quicker than single family residential homes.I'll try and pull some comps for 5+ units on the Oregon Coast and the average days from pending to closed. 

I haven't gotten any actual data, but preliminary proforma suggests the property is under priced significantly based on the popular rules of thumb abounding on this forum, and has significant upside potential-nowhere to go but up really.