In back of the home is a ground-level deck with an outside kitchen and ample built-in storage and parking for 6 or more.

Should I pass on this complex deal and just let someone else more knowledegable handle it or just JV with another seasoned investor and spit the assignment fee?

If you have an LLC that you can invest out of that adds maybe more protection and possibly some anonymity.Regarding taxes, however, I think a typical multifamily, self-storage or mobile home park syndication would perform much better outside of a qualified retirement account. 

If the property is negative CF, see what potential there is (ie: can you charge for parking, laundry, storage, is the rent too low, can you reno and increase rents, etc).

Louis), I very nearly bought a 15k sq. ft. self storage facility in MO in 2020.Thanks!

Do I need to wait a seasoning period for it?

Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S.

No seasoning.

Storage as people are forced into smaller homes due to higher home prices.

Charging $500 per night in peak season is probably doable.The property management company will make or break you.