However, it started to get a bit tough since he is no longer in communication with neither me nor the seller and he is living in the house.

Hi John- they seem to be in a tough spot related to the Synapse Financial bankruptcy- they've essentially suspended operations and are trying to sort through the mess.

If you will be purchasing materials those cards offer some discounts and in addition you can get pro discounted pricing on larger orders as well.

Cash flow is tough right now! 

I actually have two options for this property: 1) Rent out the existing 25 storage units AND rent out the building plus add the 25 additional units out of pocket.OR 2) Rent out the existing 25 storage units and added the 25 additional units out of pocket to rent them out BUT keep the metal building for my GC business to where we have offices and storage for building materials.

But you will want to change the code for access right away as fired contractors can come back and take materials from you for other jobs.

Sure, there were a few hiccups along the way (like when a shipment of materials got delayed), but with some late-night calls and a bit of creativity, he turned it around.On the flip side, turnkey properties offer immediate cash flow with less day-to-day hassle.

Also what brand, material and carpet type should I get?   

But if the market for large STRs is thin, the basement might not add substantial value.Selling: Selling could free up cash for other investments with better returns, especially if you’re uncomfortable with the low ROI and management required for STR.It’s a tough call, but if STR potential is there, it might be worth a trial period to see actual cash flow before committing fully to the basement investment.

I will say Long-term rentals are tough to pencil in at the moment, but it can usually be done with a larger down payment.