It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one major expense and three months of vacancy.

In business negotiates, weakness brings on aggressive behavior in the other side; strength brings passive behavior.  

, to view your market.Here is a tool to quickly analyze a potential Storage location or to analyze the strength or weakness of an existing location.Your going to do the following excercise using Sparefoot and then Googling Self storage for a particular city.Lets use Roanoke, VA; just because I just did that one for someone else.Pull up Sparefoot for Roanoke, VA; then click on the Map in the upper left. 

Also your financial strength will be a factor as well.First step is to determine if the project will even work from a financial standpoint.

My strength is 1) analyzing properties, 2) managing P&L, and 3) managing properties.

This sounds like a bad idea...A business(LLC, LP, any entity) is like a marriage where it is difficult to get out of once it is created.You are asking people to trust in others who don't know who the others are and don't know the strengths/weaknesses of others.I think it is okay to have limited partners / non-managing members join an entity and they don't know each other.

I plan on building on it but it's definitely not one of my strengths so it's on the back burner for now.

They will show the weaknesses or strengths and provide inputs.

Account Closed I would say that having the strength to walk away says a lot about the type of investor you are.

Of course there can be exceptions based on strength of borrower and existing relationship with a lender but I am talking more general terms what NNN lenders are looking for right now.