We are looking at units and hospitality properties, 150 units and up in strong job growth areas and favorable investment climate. 

We are leaning towards new construction due to lower repair costs in the first years and the fact that the community seems to value newer over older:)I would love any insight local investors might have--particularly in the current climate. 

What climate/area is the unit even in?

The storage building will have three levels of climate controlled units, and the remainder of the site is paved for outdoor trailer/RV/boat type storage.

But organizing something consistent and that could draw any number of people is not something I’m interested in doing at this time and may prove difficult in the current climate.

Currently 150 units, but will increase to 164 units by turning the existing unused office space into climate controlled units.

Currently 150 units, but will increase to 164 units by turning the existing unused office space into climate controlled units

Plus (what I think is especially important in the current climate) you are only leveraged at 66% which is not overexposed at all. 

What's the rent-control climate in NJ?

Basically Hard and Private money lenders (especially in this climate) do not want to lend to someone with experience.