Overall the concept of Self Storage is fairly simple & straightforward nationwide, but the specifics do indeed differ state to state.But also, please peruse the current lease the Seller is using - at least you'll know what they've agreed to with the current tenants and vice versa. 

The old 'heads-in-beds' concept does not always make financial sense.

My name is Edward Ajello, I’m 17 years old looking to get into real estate (wholesale) and I need somewhere to start.

There are fundamental concepts to Sub-to and additional considerations with LT's. 

Its also really convoluted since the gov has the concept that it can't tax you at a higher rate than your current rate. 

I realize you are an expert on 1031 but perhaps "interest tracing" concept is less common...

However, depending on your goals, the concept may be a boon for you. 

@Sarah West The basic concept is that you take out a 1st position HELOC instead of a standard fixed rate 1st mortgage.

Just the concept and idea aren't enough to bring to the table.

Each has its own advantages and challenges, and success depends more on the specific property, location, and your management approach.The "forever apartment" concept rarely exists.