And the test track only takes up a fraction of the space out at the old base.On top of all that, housing inventory is beyond scarce.  

W/o seeing the numbers,  or having familiarity w/ the market it's in, I can only assume that you're trying to steal it for a small fraction of market value.    

In these neighborhoods, you can also see some fantastic renovations & new builds, but the prices are a fraction of Herron Morton & Old Northside.

Perhaps it's fractionalized and lots of people pay to buy parts of the loan. 

And if you were the end buyer, would you buy a piece of land with a high premium, knowing you can just get it from the owner at a fraction?  

In my world every 20 units means 100k+ net per year, that means hire someone to be your PM at a fraction of that, and go buy another 20 units, keep rocking on.

I have seen other people working a fraction of what I am and reaping commissions for much more money marring an investor with a home or any other way to use my system more constructively.

If 33.8% is needed instead of 33.5% you can concern yourself with splitting the last few hairs to squeeze out some fractions of a point in the overnight commercial paper market or some such.

When I had a tenant wreck the carpet in a couple of rooms, I took the remaining life (28 months as I recall) divide by the 60 month IRS lifetime, and then the fraction of whole house that was in those two rooms (one large, one smaller).

Now, I'd hazard a guess a significant fraction of the units in most mini-storage are in fact leased to businesses.