More than likely you're just shopping rate and don't want to do a "mini-application" and want to stay somewhat anonymous and in control of the conversation.

I have an investment in a mini-storage where this is the method that matters.

I plan to eventually develop the property (mini-storage) and like the idea of having a tenant in place to defer mortgage cost while I put development plan in action (1-2 yrs).Tenant could even become watchkeeper/caretaker in future as far as I'm concerned, if interested/qualified.HOWEVER -- does the tenant normally have rights to the entire property (lot)?

If you want more info Wes Williams builds mini storages.

I know this is a long term process but I would like to build a mini empire to be able to leave my current employment and stick to real estate full time.

It's not a glamorous goal but it will allow us to retire at the age of 30.Our renovations are as follows:Laminate $1.99/sqft20x20 polished porcelain tile($1.07/sqft) w/backer board, thinset, grout $2.85/sqft9' Granite counters $115 pcLow flow toilets $135 pcLow flow Delta showers $200 pcPedestal sink $50pc for half bathsSink faucets from China $54 PCNew bathroom vanities 48" for 2 center units $650 eachNew bathroom vanities 60" double sinks for end units $900 eachNew blinds for all windows verticals in living & dining, minis in bedrooms $500 from StarDecoratingElectric fireplace insert ($250) w/ ledge stone surround ($5.99/sqft) and mantle ($20) $500New doors $42-$64 eachKwikset handles & knobs $500 total for all units Modern kitchen cabinet handles $50 per unitTamper resistant modern outlets & switches-Leviton $200New lights $370LOTS OF PAINT!!!!

As of now, I have sent a mini legal pad note and a postcard to 100 locations. 

Does he manage the property for free and make his mini-mortgage payments out of his pockets?

So, each mini project that is completed by the contractor has to be paid by you and then reimbursed.

Ill give you an example:I saw a deal for a 11 unit mini-apartment building in Rittenhouse square.