This reduces the lender's risk and makes it easier to offer competitive rates.

Here are some thoughts on your plan: Cost Savings: Doing the majority of the renovations yourself can significantly reduce costs.

Whether buying land to develop, buying existing Storage locations, reduce risk of over inventory of storage units in one market, TIME waiting for either land or a location to become available for sale, while we are trying to grow our business.Start small and MAKE YOUR BIG MISTAKES EARLY. 

Buy properties (in the path of progress) that need TLC and add value (rehab, raise rents, reduce costs, increase NOI).

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

I know in New Jersey, you cannot bill if you clean it yourself outside of the actual chemicals used (I.E. free labor).  

An S-Corp might help reduce self-employment taxes by allowing you to take a salary and receive dividends. 

Diversifying your investments across different states can also help reduce risk and protect your portfolio.

If I reduce the purchase price to $600,000, the CoC jumps to 15.2%.

Labor, office costs, etc. are no joke.