Is every single one identical in terms of repairs and capex, and they all net exactly $200 a month?  

I am working through a PSA for the purchase of a self storage property and I would like to know what surveys you would say area) criticalb) nice to havec) unnecessarywhen acquiring a self storage facility especially given standard exceptions in title policies.

This includes examining the structural integrity, plumbing, electrical systems, roof condition, HVAC systems, and any other significant features.Title Search: Hire a title company or attorney to perform a title search on the property.

A lot of the things a mortgage company requires is to protect their financial interests (and subsequently protect you also)....getting title insurance, a survey, an assessment/inspection, and requiring home owner's insurance. 

when your dealing with a borrower with experience...its not wise to control the Construction, Its not smart to smudge HUD's (i took myself, title and attorney days to figure out my closing cost went from 25k to 40k)...later to find out most of it was in fees and paying 12 months in advance of mortgage payments.

Their history of large rental income didn’t add anything to the value because you could buy the identical house across the street and do the same thing. 

Hi as Steve and Jason pointed out it is very important to keep funds seperate.You will need an escrow account, if it's required by law, your account will need to be titled XYZ ESCROW ACCOUNT, if not so required, it can be any account but ONLY deposits and funds held in trust should ever be depoisited to this account and any withdrawl should be well noted on the check and on your books.If you comingle you accounts and you need paper towels to clean units, the IRS can simply disallow your deduction saying it was used at home since it was paid from a personal account or one of comingled funds.I too would suggest you formalize a business entity, an LLC probably.

Which title company are you all using now days?  

When title transfers, the lender has the right to require that the loan be paid off entirely.

Biggest thing is to make sure the agent and title company are competent in Seller Financing, I personally close my Seller Financing deals with a title company who has a real estate attorney on staff.