When planning the rehab work, make sure you understand the extent of work required for each unit, including material, labor, and permit expenses.

Rentometer provided a rent range of $1,852 to $2,258, which is a very wide range.Below is the cash flow for this property based on the low, median, and high Rentometer rent projections.Depending on the Rentometer rent estimate you choose, you will either incur a loss of $94 per month or make a profit of $312 per month.

Beyond that, most self storage only being 8 1/2 foot tall or so wide, a 10 x 30 or 10 x 40 storage unit can't handle RV's and boats.Recreation areas/cheaper land:  The way you beat your competition is to build closer to the Recreation areas or on routes to them, from the populations.

This is going to be a very tough scenario, I suggest you stop putting money into this deal until you get things sorted on the financing side.I would also be very careful with and sketical about any offers for 100% financing... it will not happen, they are lying 99.99999999999999% of the time.The only realistic way would be for you to find a private investor to come up with the down payment for the mortgage but a down payment will be needed.90% LTC is theoretically possible through a flip loan but in order to reach that level you would need to have a lot of completed projects under your belt over 2 years.20% is possible but with 25% you would have a lot more options.That is part of the issue with this transaction...The other issue is with HOW MANY loans you are seeking...This is not 1 loan because this is not 1 deal...You need 3 loans because you are doing 3 separate transactions at the same time with the same seller.Blanket loans do exist but they are not widely available.Each folio number is a separate deal...

I'm looking at buying a vacant lot, then getting a used single wide mobile home for it.

You'll have them paid off by the time you retire and will enjoy a significant boost to your retirement income.Generally, you want to grow your portfolio wide (more units), before you go deep (paying off).

I've noticed the forums provide a wealth of knowledge from individuals investing in a wide variety of strategies and feel this is the best place to start.

To the extent you borrow money to invest it has some influence… but not on the products you invest in, but rather your ability to borrow to invest in those products.  

To what extent should I be verifying that they have the correct licensing? 

But that was about the extent of the fee structure and services rendered.