My questions are around how to evaluate if its a safe/stable investment alternative? 

However, it's crucial to thoroughly evaluate all costs involved, including land expenses, construction costs, and potential challenges with financing.

You can reach out to your local (state) Self Storage Association, peruse topics on You Tube, and certainly many, many forums here on Biggerpockets with quality folks & quality content.Regardless, of how you piece your learning together, everything (soup to nuts) for an Acquisition is either FINDING a lead, EVALUATING to determine if it's a deal, now you're in the PURCHASING phase, and after you close, now it's all about MANAGING.If you think that at times it makes more sense to build than to buy, then you'll want to learn about Development & Conversions.  

Use this equation to evaluate how much to offer on a property:Max offer = After Repair Value x 70% - Rehab BudgetDo you homework on comps to get a good idea on the ARV. 

To evaluate your situation you need to get a handle on the expense side of the equation

Explore options like conventional financing, FHA loans, or private lending, and work with a mortgage broker or lender specializing in investment properties.Overall, it's essential to conduct thorough due diligence, seek advice from experienced investors and professionals, and carefully evaluate your options before making any decisions.

You need to evaluate how the additional interest expense will impact your cashflow. 

You could certainly "be in the right" regarding getting screwed over by the builder but this is a situation that is going to be very very risk for a hard money lender - typically stay away from unfinished rehabs/builds due to running out of money.Your best bet I would say is to find a local private money partner (maybe as more of an equity investor) or to try to finish one first and then re-evaluate, instead of trying to borrow for rehab on both

Common HousinIt's authorities will evaluate its management approach regularly to ensure it effectively meets its communities' needs.

You've got to be spot on with your design, decor and amenities so really evaluate your property honestly in comparison to your competition and ask if it's going to be a page one listing.