It may not get the number of wind/hail storms like TX does, but when the storms do hit in MN, they're usually very large systems, and produce awful hail damage. 

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.For ARV (After Repair Value), you’re absolutely right—it’s all about comparable sales ("comps").

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

This is not yoursituation, but just to walk through the different thought processesin Holding/Selling that a friend of mine is going through.Helped my friend getinto the Self Storage business and walked him through the wholeprocess from evaluating the market, selecting a site, developing thesite, systems, financing, insurance, etc.

Summary of expensesNOICap Rate Condition of the building systems  

We had an accounting system once that necessitated doing this - not ideal, but it keeps the assets and liabilities straight and AP is just an accrual until you pay the bill.

I have been with AHP servicing couple years and do monthly deposit to them as my system "pay myself first".

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Again while they may legally be bound to an agreement, you are going to have to go through the court system to get them to abide by it, and that is not going to be easy or cheap.I see your point.

I would love to understand what criteria your software is using to eliminate 99.6% of all properties.Congratulations on developing a hybrid system that works for your company!