It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions.

My questions: - Looking to understand pain points of operating in Indio that you wished you had known - Besides the music festival in April, is there frequent tourism ensuring you are making the annual CoC ? 

Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours.

CommissionerYou really need to see how this operates in the real world, and with a Tax Court Judge looking at all the facts & circumstances.  

Annual net operating costs for option 1 are basically the same as the annual revenue.

@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.

Both my wife and my background is in manufacturing, specifically operations, customer service, and project/account management. 

They'll probably also want to be sure that you are competent to operate the property afterward, because their reputation is tied up in who they do business with, and it's bad for everyone if the property becomes devalued.

Does the operational company already exist and have income history?

I have always dreamed of owning and operating multifamily rental properties ever since I was a little kid.My mom has been in realestate ever since I could remember, everything from being a realtor, fix and flips, buy and holds, and long term rentals.