One of the units (ground-floor) includes the basement in its living space.

There is no "emergency", if it's broken for a few days buy them a few $15 space heaters.

One of them is moving in from out of state cause he gota new job so family has to move, the other is local. both have families so am having a hard time deciding who to rent to.The person from out of state currently owns a house himself and is planning on selling so should know how to take care of a property, at least that's what I think.The second is looking for a bigger space for his family.

And yes, I have a base understanding of how to value self-storage; thank you to BiggerPockets content and networking through others that have been successful in this space in my area.        

For example, 3'0 doors instead of 2'6 doors (space permitting).

There are more and more lenders allowing for STR's on 30-yr products, and the space is becoming more competitive, which is great for investors!

Maybe studying all of this is unnecessary, but at the end of the day, the more you can perceive change in the RE space, the better you can adjust your strategy and criteria to profit in the market.

If you’re residing in one space and renting out the other space, do you have to apply for an investment property loan or will a conventional loan work?

I am curious if anyone has experience in this space and would be willing to discuss their experience?

@Neil Anthony, if you want to learn the MF space, I think investing as an LP in 2-3 syndication deals is an excellent start, especially if you are investing out of state and, assuming you have a full-time job.That is how I started.You can learn how sponsors evaluate and offer deals, listen to other investors ask questions of the sponsors, and, IMO, you can attend in-person events where you can meet other investors and sponsors and ask all the questions you want as well as hear investment stories of all kinds.Once you get through some time immersing yourself in the MF investment world, you will have a better idea of whether you want to be an active or passive investor.