Justin Pierce - here is an off-the-wall idea, just to give you a marketing concept that others may not share.... how about purchasing a used panel truck and putting huge signage on the sides and back with your "Fast Cash for Houses, As-Is" message and contact info.

You could simply wholesale the deal to an investor/buyer for say 28K.....you give 22K to the guy with the lease option, and then 3K (or less if you can get a discount applied) and keep 3K for yourself....this is an oversimplification but hopefully it paints a picture of the concept.

I use it to get ideas, but I've found it to be really helpful to communicate concepts to contractors.

I have been reading and researching for about a week now and I feel like I would grasp so many more concepts if I could speak to someone who has been through the process before.

It is an open concept plan, my entryway, kitchen, hall areas, are all the vinyl strips, the family room, living room, kitchen/breakfast area, dining room and bedroom on the ground floor are all carpeted.

Take advantage of bonus depreciation now.There are reverse exchanges and other more exotic exchanges but I personally not sold on the concept when the IRS comes knocking.

What are you thinking about doing next in real estate investing now that this has proven the concept for you?

This is a foreign concept to a newbie like me who can't fathom making offer without seeing the home first.

You should join the specific State Self Storage Association that your facility is in and then use the one they recommend.Self Storage is basically the same model  & concept nationwide, however there are certainly specific rules & laws that differ from state to state. 

@Ben CohenNow these numbers are starting to look like a rental property :)That, and I realized your method of calculating Cap Ex is MUCH simpler than the one I've been using for 15 years, thanks for that!