I know this was a few months ago, but keep in mind in the future when you are trying to get credits on a rehab you need to undertake a substantial renovation (100% of the building basis).

I have a broad background so can undertake any type of house related construction (except I've never laid brick).

@Tyler MorrisonI agree with the feedback @ @Greg Dickerson gave you to find an experienced self-storage operator interested to take this deal on and let you be a part of this undertaking for a small cut.You can do your search here on BP.

It can be a big undertaking, but there can be good profits in it. 

@Grace JohnsonThat is quite an undertaking!

Now I listened to Brandon’s audible book and he mentions in BRrrRR investing that there are only certain types of loans a person can get for such an undertaking.

Painting a whole unit is a big undertaking. 

I am not concerned that my terms would be met due to the profitablity of the tenant's business and significant investment there in, however, I am concerned about the implications of undertaking this relatively aggressive strategy including any legal implecations to to which I may be bound according to NY State law (Usery laws..?

My plan is to buy and hold.PUB02121 of the MO Department of Natural Resources states that “demolition or renovation to an institutional, commercial, public, industrial or residential structure (excluding exempt residential structures as described in the preceding section) will involve greater than 160 square feet, 260 linear feet, or 35 cubic feet of regulated asbestos containing materials, then the removal of the asbestos is regulated by the department” but the City Planning and Development Guidelines for KC state “any person undertaking the demolition or renovation of any structure shall employ Missouri registered contractors and certified workers”.It seems to me that the city regulation requires you to contract a certified asbestos abatement professional while the DNR will only require this action when meeting a certain threshold of asbestos material but I am not sure.I should add that I am not an experienced real estate investor nor do I work in the real estate industry but I want to go into this with my eyes open and I am sure I will have many more questions in the future.

I know you said you don't want to/have time to play GC, but for this project it doesn't sound like it would be too much of an undertaking.