I'm trying to head into the process with my eyes wide open, and yet . . . it snowed here today, we're both working from home, and I've been distracted by internet real estate sites and pretty, pretty condo listings. 

There are some great articles on insideselfstorage.com that get into details of valuing self storage facilities.

@Christopher Butterstone Here’s a good article that will pretty much explain most the stuff you’d want to know in an easy to understand way: Real Estate 101: How Rental Properties Are TaxedAnything beyond what this article covers, or unique to your specific situation, and it’s probably best to consult a personal tax professional. 

Thanks for the feedback Account Closed, I've read a few articles on Subject to and Wraps, interesting concept.

Get the best rate you can, but it’s far more important that you keep it separate, include all the necessary 8-203 info in your lease, and properly account for it at the end of the tenancy.The DHCD calculator (it that’s what you’re looking at) is great for deposits received after 1/1/2015-and a landlord is permitted to rely upon it per the MD RP Article.

In terms of RE investing, perhaps this article will help: https://www.biggerpockets.com/member-blogs/10850/86621-six-steps-approach-to-getting-started-in-real-estateBest of luck!

This article was in the WSJ today and is relevant to this discussion.  

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCalifornia is a sort of beastly state when it comes to taxes and filings.

I also believe in your previous post someone linked several resources including articles and podcast episodes which is where I started to really learn about it and would suggest that's a great way to get a basic knowledge.

Beware of free ClassifiedsIf you post your property listing for free on an Internet list, you may find that 100 properties within the last hour posted rental properties, too, and your post is now buried.