I helped a client get a combo car wash- self storage property a few months ago here in DFW.

Congratulations hope to be I your shoes one day!

Their funds are very diverse in mobile home parks, self storage , industrial, Multifamily, etc   So they are like a fund of funds.

@henry Clark has posted on BP exact detailed steps to create a self storage facility.  

If I put myself in the shoes of the outside partner/investor friend, I would be very concerned because: 1) unclear and/or potentially conflicting business plan, 2) even with clarity in the BRRRR business plan, unclear in the viability of pulling it off with these market conditions, 3) the chances of dispute seems very high, especially if you're going to live in. 4 years ago, I went through a  similar thought process when purchasing an investing property with mainly my family money, while considering an outside investor to rehab for higher STR ROI... 

I would do the deal if I were in your shoes.

If we do a Self Storage development we expect a 400% COC return.  

About 2012-2013 I was in your same shoes.

Hey @Camille Romero - fellow NY'r here that started investing a few years ago, I was in your same shoes when I first started after working in tech/software and having a nice nest egg built up. 

We've struggled with Quickbooks for the last several years (and before that I literally had a shoe box with receipts in it).