On the other hand, I also did have that in writing and made that aware to all of my clients, As well as the service providing softwares Stating the same policy.

If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

I've just heard that from many people over the years.In general, SC is experiencing an economic renaissance, so it is a good time to invest here. 

The rental market is strong due to students and digital nomads.Managing a couple of tenants would not be too hard but managing a dozen, on the other hand, would be a nightmare.I am a bit torn.

The previous owners took reservations mostly by phone, wrote them on a big paper wall calendar and hand keyed CC numbers into a terminal 😲The bunk beds have been a huge win. 

Then a lot of people moved on to Memphis.

One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!

I currently work with investors to build their portfolios with Turn-key long-term rentals, making it hands-free for the investors. 

On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.