It will increase the ARV which could mean more cash out in your pocket, or a better rate because a higher rate could decrease your LTV. 

I have gotten as far as looking up storage units on loop net and comparing cap rate.

The "1% Rule" can be a great rule of thumb but it doesn't account for a massive elephant in the room: Expenses.What really matters is NOI (Net Operating Income), which is why we prefer cap rate. 

- Property taxes and insurance costs are $101 per month- Down payment is 30% on a 30-year fixed rate of 5.5% interest- Monthly rent is $995 monthly- Closing costs are $5,500If you have this information when considering purchasing a property, here's what you'll get if you type this into ChatGPT:"To calculate the return on investment (ROI) and monthly cash flow for the property purchased, we need to consider several factors:1.

Heloc rates in my area are 8.5% whereas HML was quoted at 12% and 2 points.once I finish the heloc can I pay off the principle only like I would with say an auto loan? 

Amres appears to be highly rated, but their info did not come up while looking for a lender through Bigger Pockets. 

Thanks for jumping into this @Jay Hinrichs- My CPA assures me that by retaining title (not transferring it to the partnership) I can enjoy cap gains on the land profits portion.- All the costs you list are in the $2M. 

The more property you inspect, the more of an expert you will become in your area.Once you feel comfortable with inspecting properties, learning the right questions to ask, understanding your local market, and HOW to evaluate each potential deal, THEN you will know a good opportunity when you stumble upon it.You can transfer those skills into looking at other markets and will have some clues as to what makes a good deal.

We put down 20% and have a 30 year fixed rate loan for the balance.

I read briefly that the interest rates are higher?