PODCASTS - take of advantage of the BP podcast, but also the numerous other podcasts out there that will help you formulate plan and help get your first deal.Enjoy and the best of luck you! 

Take a solid year to devour as much info as you can on BP, RE books, podcasts, meeting other investors, etc and then you will really be able to formulate a solid strategy that makes the most sense for YOU and your situation.

Hi Michael,I found this post while trying to formulate my own business plan, and wanted to follow-up with you to see if you ever formed your plan?

How much you can borrow is based on the net before debt cashflow the project generates which a lender will use to formulate the amount it will let you borrow which is generally determined by applying a debt service coverage ratio which varies for different deal types which I believe is ~1.40 for a self storage property.The equity you put in will receive the balance of cashflow after debt service which forms the basis of your financial performance (cash on cash and IRR upon sale on a pre and post tax basis).So, the amount you can pay to acquire the property and cover deferred maintenance is equal to a price that allows you to generate enough cashflow to cover debt service and provide you with what you consider to be a reasonable return on your equity investment.HOW you pay is highly related to WHAT you pay.

@Isaac Howell and @London Stewart my advice for beginners is to formulate an actual plan, road map so to speak, about the path you want to follow for investing.

Frank gallineli book was excellent with detailed calculation on how to formulate cash flow.

This could be formulating a price that works for you and hand picking comps to justify it. 

Been lurking for a while as I learn and formulate some strategies.

I do 100% agree with that and will go that route if needed, but I am really looking to hear from those that started without a good chunk of capital (what worked & what didn't when they went that route) so I can formulate an opinion on whether or not I want to go that route.

Smoking in the presence of these chemicals when they are free in the atmosphere in an enclosed space can cause death by phosgene poisoning if the refrigerant is formulated with chlorine (R-12, R-22, etc.)