What would a realistic plan for someone my age be? 

I plan to convert it into student rentals.

Plus, you want your lease agreement to fit your business model, help you to reduce costs, provide for compensation from the tenant for administrative burdens imposed on you by tenant acts or omissions, provide for procedures tenant need to take for maintenance and other tenancy issues, etc.

Jason   we just did a project where I brought the land, capital partner and I negotiated. they build all cash for a 720 square foot plan we build that sells at a premium here.

Despite my concerns, I was convinced to proceed with the promise of a more manageable payment plan and reassurances of quick success in the real estate market.

If you plan to invest in real estate you want a relationship with someone you can hire for issues or even to get questions answered.

Understanding how these entities can work together to support our cause is crucial.I am seeking feedback, resources, or any guidance on how to proceed with this plan.

I'm just telling him he's underutilizing his site by going one story and if he plans to exit he should plan around what an institutional level self storage purchaser will want. development is about exit or ability to exit and risk. in multifamily we build or try to build at least 150 units. not 40 or 60 or 80 there's no buyers.

If administrative costs are increasing due to the volume of total properties under management, then the monthly fee should increase across the portfolio to ensure there is no conflict of interest between the owners and property managers.As you can see in my 2015 financials below, I paid $9,876 on repairs.  

Deals need structure to come out good.You could tell the person seeing it first (at the end of the showing) that you were planning on showing it at least one more time before making a decision---whether you like them or not.