Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

Convention lenders said they are OK with this approach, but in PA not sure paying the transfer tax twice (once at sale and once at transfer into LLC) is worth the savings on the interest rate between the conventional vs DSCR (just pay transfer tax once at sale).

For example, using 70-80% leverage could preserve your cash for more deals while maintaining strong returns.A blended approach might work: pay cash for smaller deals to avoid delays and borrow on more significant properties to spread risk.

This is a thoughtful and intriguing opportunity, and it’s great to see you approaching it with an ethical mindset.

Is it best to approach an architect or a land developer for what I am proposing?

Use a property manager for out-of-state properties or if you prefer a hands-off approach.

This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

Is this still a realistic approach?

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

I want to reach out and get feedback on where I would be able to find off market self storage facilities and how to approach the owner?