Requiring a real estate license can potentially be a “trap” for wholesaling, as real estate licensees may in in violation of their code of conduct by way of their wholesaling activities.  

So we could do this loan strictly as a value add play on the self storage units and renting out the metal building.

You are subject to new building codes.

They do have strict requirements.

I think if you understand the price per unit as well as the price per square foot in the zip code and nearby zip codes that will give you a good idea of the comparable market analysis approach and appraiser might use.

But you will want to change the code for access right away as fired contractors can come back and take materials from you for other jobs.

Be sure to review property tax statements and verify any zoning or code compliance documentation.

We have a pretty rural place and Idaho has some of the most strict laws around marijuana use so that hasn't been an issue for us.Smoking in general has been a problem a couple of times.

Example: I define what zip codes (or neighborhoods) that I buy in.

We live in a very intersting, diverse, and complicated market and understanding the intricacies is very important - especially for a new investor.Markets in the same zip code even have their own submarket and tendancies depending on location and its important to look at things hyperlocally in philly.