The rental is currently cash negative and our thought is by converting the unused storage unit it would bring cash flow into the positive.

Seller used one of the units for storage.

The equity pay down in many RE classes (residential, storage, hotel/motel, office space, industrial, etc) ispaidby the tenant.- there are ways to never pay tax on gains (1031, owe until death, etc)- cost segregation can in effect have RE acquired at no cost- sweat equity can produce additional return.  

But that doesn’t mean that you can’t find them with some good old-fashioned shoe leather.By far the best way to find great syndicators to invest with is to get recommendations from friends and colleagues who are already investing.

I'm sure someone on here has been in my shoes, right? 

- what about storage space?

We have not disabled ours or converted to gas, but Tenant must sign a Fireplace Addendum stating if they use it, we require a higher renter's liability policy with us as additional insured, rules on wood, storage, use, safety, they pay for yearly professional cleaning each year they are there, etc.  

If I were in your shoes, I’d look into value-add multifamily properties in growing markets.

"What if" did groupings of these clusters in horse-shoe, so 3 4/6 plexs with walk-out to shared central courtyard. 

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.