If your at $500 per month on 87.5% occupancy, I would walk away.Do a cost to build on the Storage units. 

There are no penalties for an incomplete exchange so if you don't already have a solid list of potential replacements, don't worry about listing anything and let your exchange die.

Not familiar with it, but as with most HELOCs, the analysis would come down to the cost of capital vs the ROI you think you can get on spending your home equity.

You can also look at furnished finders and see if Mid Term would be good and you can be consistent with prices and make sure you know how much it will cost to furnish and make sure the investment is worth it.

Not all units have it but we got a good deal with our vendor and 1 bug complaint can cost hundreds so our owners were on board as well.

Saw the opportunity in a potential high growth market.

the repair cost i estimated to be $200k... so i did not go for it past 1.4. 

So I just ran the numbers on a potential rehab property.

If rates do drop, you could face higher property costs, potentially negating the benefit of the lower rate.

I've already bought the property because I was afraid of rising rates (got a 3.4% thank goodness because they're literally in the 7s now), but it's still costing me 1800/month before construction starts.