I am looking into buying my first self storage facility.

I've lost friends and family to substance abuse so it seemed like an opportunity to do some good and make money in the process.I negotiated a sweet deal, and was prepared to buy it myself, but a few of my clients expressed interest and I ended up helping two of them form a partnership.

I'm a property manager, and I also buy/sell property.

I don't care if 99 of 100 homes in the area have K&T, I would NOT buy it and leave it with K&T anywhere.

While buying one that’s up and running might seem a good idea - paying for speed - if you’re not quite ready, sometimes the best deal you make is the one you don’t make at all.

Yes, they will do many things better than you, but some things it's not possible for them to be as attentive and quick responding as you.Also, no one's perfect, so keep tabs on them in general.Regarding holding or selling: why did you buy this in the first place?

I want to know whether it would work legally for me to buy a home and occupy it for 6 months and then relocate for the maximum time of two years and then return to the property a my primary residence. 

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

so: buy a house.