Whats interesting is that when you look at this P&L next to that of a similar gross-revenue multifamily or self storage facility, it is VERY similar.

Does WI have a DEQ (Dept of Enviro Qual in OR) or someone that keeps lists of USTs (Underground Storage Tanks in OR also).That'd be who to ask.  

It may well come back to bite you in the butt, hard.Store the stuff in a real storage space, pay your money to do it, take the hit on your spreadsheet, make nice with everyone in the neighborhood.

Hey Everyone, I am in the process of checking out self storage investing and getting educated on them.

Bring in awesome ideas like multi-purpose furniture, cleverly hidden storage spaces, aquariums, cat transit walkways.Creative designs with chandelier would be very attractive.

With digital photography and storage being so cheap, I'd take WAY more pictures of every little thing in order to properly document.If you feel the landlord is the type to withhold the security deposit, review your state's landlord-tenant laws to see how long he has to return the deposit in full, or any unused portion with an accounting of how it was spent back to you.

For example, if you like storage facility focus on that.

Depending on the overall amount of space you have in that basement, you could also create some storage cubes or lockers which could be rented (with appropriate rules for use and addition to the Rental Agreement to ensure it gets inspected at move out.

Make sure all the units are rent ready and that they're not being used for storage.

Racking up properties to me only makes sense in a down market, or potentially in an "alternative" space like mobile, storage, or larger deals.