Maybe it's conjecture on my part, but I think a good agent (good being the operative word) would have encouraged you to start by offering lower and saved you more than 2.5%. 

@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.

Your LLC needs more than 4 pages operating agreement.They are recommended by many but not with me.

As a smaller, self-managed landlord I think solutions that offer that kind of scheduling/logistics framework are solving for one of the most long-standing self-managed challenges we've had for years: how to scale and systematize operations when you're are landlord or PM out there hustling for your next deal. 

They aren't the actual bank so need to upcharge these fees and hoping in volume they can make enough to continue operating. 

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

While I have managers handling the daily operations, I still oversee everything remotely.

Helped my clients partner up and close on the property, then signed a net lease with a SL operator.

My only concern to look out for is that things can go 'rural' pretty quickly if you start venturing outside of town, and most lenders are going to put the brakes on financing if the appraisal lists the property as 'rural' (has to do with what they perceive as the availability of future tenants).Watertown, NY - It probably is as good as you believe, but the lending licensing is pretty tricky up there, so its just  bit more difficult to find lenders that operate up there.

I learned from Dave, how to talk to potential investors, how to build rapport, how to answer questions and explain the company’s strategy and operations and the secondary mortgage industry.