MFH offers so much more from the economy of scale perspective and you can achieve the desired results faster and easier too.

First off I am not an accountant but I would probably mention that if he sells right now he would have one large lump sum of money that he will have to pay taxes on.  

Second, the long pole in most of these transactions is the time it takes to do a title search and the deed recording.There's a lot of promise for smart contracts in the space, but I wouldn't trust any smart contract for such a large transaction in the short-term.

Began my REI journey less than one year ago to start creating passive income with plans to scale back from my day job by age 45 (eleven years).

My parents own several large storage facilities and they have hosted auctions but it's a last resort.

My question is I do not have a large income ;) and most of it is 1099’d ;) so it is hard for me to obtain conventional loans via a bank.

Look at your rents and run scenarios for varying scale of market softness...can you still cover you expense?

The job market is stable but wages have largely stagnated and not kept up with cost of living.

If not, I absolutely wouldn't pursue a deal that large. 

I'm considering the following:1) Work with a large contractor who is familiar with the HML process and has the capital to keep the job going while waiting on the draws.