If I were in your shoes, I'd focus first on a learning to be a good agent: learn to run CMAs (comps), social media marketing strategy, the ins and outs of contracts, and work on building up a network of "go to" people for help when you don't know the answer. 

Lot's of W2 workers looking for passive returns struggle with deciding which way to go, active, passive, self storage, multifamily, single families, ect.Once you have defined your criteria, then and only then should you start investing.

Additionally, the fenced lot seems like a fantastic opportunity to develop self-storage but again, we have no expereince.

This is to allow them storage to keep the place tidy, but mainly because if there is a water leak I want them to be able to kill the water immediately.

Our deal metrics for our storage from a financial perspective:a. 

What to get/request or demand now that the shoe is on the other foot?

This thread has some good knowledge in it. http://www.biggerpockets.com/forums/67/topics/59148-underground-storage-tank

I read that self storage has recently qualified for 90% CLTV loans under SBA 7(a).

Our garage is full and used for storage of a family members belongings.

Just looking for some guidance & support, and to see if anyone has ever been in these shoes :)Thanks!