If you can JV for a seasoned developer and investor on a deal like this and make 10-20% of the upside while tagging along and learning from their experience, that education is going to be worth way more than trying to get a 50/50 split or something like that. 

I've identified hopefully like mr Henry says, start small and make your big mistakes early, a small town in TX that seemingly could use more storage.

This girl fell for the guru BS before I found Bigger Pockets and I have had much more success on my own.

It’s the smarter move, it would mitigate the risk a lot more if I knew more experienced investors.

I just read a comment from Fred Heller about bird dogging.

The other option I would consider is regional credit unions that hold onto mortgages/loans and don't sell them to the secondary market - they are "portfolio lenders" and have the ability to be more flexible with their terms.

Are you seeing a similar small bump in income, or is it more significant in your area?

What more do you want for free?

You do have a lot of leverage, and your comfort level is a personal decision for you based on your finances and ability to sleep at night. 

In this situation, it seems more like you're doing a live-in flip rather than a BRRRR strategy.