You just need a good property manager.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

Step 3- hire property manager to manage/look for rentersStep 4- look to refiance out of the hard money loan(how long after having a renter in can we refiance?)

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

With your background as an electrician, contractor, and project manager, you have a unique advantage in real estate.

Assuming that continues and you manage your properties competently people will think you are way smarter than you are in 10 years. 

No, you can manage multiple markets in one account.

Especially after capex, vacancy, management fees, etc etc. 

I has two GREAT property managers that immediately come to mind, one handling 5 high end high rise condos I owned in Phoenix and the other one handling a 12 unit very lower end apartment building I owned in Arlington, Texas.  

If you're going to run a successful business renovating houses, ultimately you being proficient at/and or managing said proficiency in estimating will be a crucial part of your underwriting.Google "how to estimate house remodeling" your hard work will be rewarded.