@henry Clark has posted on BP exact detailed steps to create a self storage facility.  

I am interested to hear what the other pros have to say about your situation and how they would recommend approaches this. 

Form 3115 allows you to restore the fairness in this situation and "catch up" with the remaining $30k of depreciation that you failed to take in the years past.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

Seems like with an up/down situation or even a side by side duplex in Denver is difficult to find positive cash flow.

Two of your questions will be more situational and location based.We don’t ever haggle on pricing, although I would suggest being flexibleWe check credit, criminal history and everything that goes along with that, evictions, and income.

Talk with other investors in your situation to get some ideas. 

They know the law inside-out and protect you from bad renters or unique situations like the COVID eviction moratorium. 

A property manager would have greatly reduced my headaches in this situation.

The mega backdoor roth sounds great in practice, but in real life situations I've never actually recommended it to anyone.