Many markets are oversupplied with Self Storage, and the fantastic fundamentals of self storage as a business do not make owners in those markets immune from the laws of supply and demand.

Originally posted by @Kevin Burke:Any recommendation for a new investor looking to invest in multi family homes A lot depends on what size property your talking about but regardless market and product knowledge is key then learning financing and raising capital if you need it.

The contractors know how much they can charge before it raises concern. 

Hey River,I was born and raised on the east side of Seattle and have been in the real estate industry for several years now.

This raises a second strong caution: I am inferring your lenders are newbies as well and don't know the risks they are getting into by lending to you nor your investment risks. 

Raising cash. 

You're saying that since you make so much money at your first job, you're willing to work a 2nd full time job...and use the "extra" income from the first full time job to pay your employer on the 2nd full time job...for the privilege of working there, with the hope that over time you will get enough promotions and raises to make it worth your while...even though you have no control or promises that those promotions and raises will ever happen....and yes, why invest in something that's losing you money? 

Crazy idea...but have you tried to figure out how costly it would be to raise it a couple inches?

Set your budget based on cash on hand or ability to raise and what you may qualify for with a mortgage.  2.

@Anthony BobbittYou could always appeal the appraisal to try to raise it but it sounds like if you get the appraisal to come in higher, the seller will probably expect to revert back to the original price or split the new difference in prices.