It's like accepting a full year or rent in advance as a landlord.

What are some of the challenges an owner would have accepting this type of deal.  

The whole reason FHA developed a short sale method is to reduce the loan balance down to reality, down to what the home is worth, down to the value of the collateral at the bank accepted. if they had the cash, they wouldn’t be behind on their monthly payments.You're right I overlooked that part.

My business partner and I have been looking at multifamily deals for almost a year, even though we have been looking at bigger deals (50-150 units) reading stories like yours, keeps us moving forward and knowing that there is light at the end of the tunnel and we will get one of our LOI's accepted! 

@Ronald RohdeWell, just waiting for seller to accept my offer.

Keeping it as one big space may set it apart from standard storage units, but you could also test demand with dividers for varied price points.

Percolation test.  

All three generate leads from insurance claim residents and traveling professionals (medical and the trades).One of the advantages of FF has been that it's forced us to have systems in place to create leases, accept security deposits without co-mingling and provide "live" customer service. 

However, since I was already negotiating with them, they allowed me to accept the newly posted price within 24 hours, which I did.Now, I have two options: I could fix and flip it with an estimated $200K rehab for an ARV (After Repair Value) of $825K, having purchased it for $465K.

I have so far tested out Harvest, Toggle and Clockify they all track time but they do not allow to attach any support to the task.