I’m interested in hearing if anyone here has bought a poorly run self storage facility before and what the process looked like for acquiring it, transitioning management, and how you dealt with tenants who were consistently late, paid in cash only, lived in the units, dealt drugs from the units, and did other sketchy things.

The Boone / Blowing Rock / Banner Elk, NC area is popular for short term rentals, since there are 4 true seasons and events and activities in each making it a year-around vacation spot.

We tried to manage a seasonal property from about 350km (250 miles) away and found it to be a bit too much for us with higher fees then we cared for.

I'd get it under contract and get some seasoned investors to look at it with you. 

(I.e. storage conex, easements, etc.)

Are there any self storage investors on the forum that would like to connect?

It stands for Delaware Statutory Trust and is a trust/pass through entity in which a sponsor (think big real estate investment corporation) buys institutional property (apartments, self storage, commercial, medical office, etc) and then sells interest in the Trust/Property to investors. 

The owner of this property seems to be a seasoned investor.

Adding additional revenue streams such as storage and covered parking.

Down 53% from last year but up from May, June, and July (Seasonal Market shifting?)