Boat and RV storage is at a premium for many people so you have a good idea to use existing land to generate income without doing too much in the way of improvements.Renting it out for RV storage is a great idea.

It been over a month that I've been asking for access to the keys for storage areas at my property.

Here are the variables you'll need:ARV (After Repair Value)Estimated Repairs (add a 10% contingency)Estimated RentPurchase PriceEstimated PITI (Principal, Interest, Taxes, and Insurance) on the refinance sideIf you know these values and ensure that your all-in cost (purchase price plus repairs) is 75% or less of the ARV, and that your rent will cover PITI + vacancy + maintenance + property management, then it's a deal worth pursuing.The BRRRR model is a fantastic way to build a portfolio and is still very feasible—even in 2024.If you're interested in more info, feel free to shoot me a DM—we can connect, and I'd be happy to assist you.

I actually think I could get closer to $1,500/mo for this one  because it's so nicely finished, and also has 2 additional finished rooms that could be office and storage space/dressing room. 

As for why the way it was explained to me it seemed feasible to do, even this late in the game. 

Every jurisdiction is different, but in general it's usually a civil engineer and/or architect and/or general contractor who can give you an idea of what is feasible. 

I don't see many with any amenities at all and building them into a budget with only 4 units usually isn't feasible. 

I help developers with initial due-diligence & feasibility on site selection, and then all parts relating to civil/site permitting: rezoning, platting, civil design, etc. 

I know they can be very difficult to manage, and many of them are old.Self storage and industrial are two niches that I think you should also consider.

Do the closets have nice organization storage?