I'll try looking into the numbers for the sake of practice but it seems pretty apparent that this might not be the right deal to chase.

To your question though, any bank with experience lending on storage will have established practices for determining value.

Hi Joseph, I am a certified military relocation professional.

They've stated all furnishings, bedding, electronics and daily use items must be removed and relocated into one of the habitable areas.

To me it seems unlikely that the residents area would be willing to do a subject to without any cash in hand to relocate to a new primary residence.

You can 1031 the investment portion into a new property even though you haven't held it very long because of the nature of your past and current business practices and the whole crazy pandemic scene in NYC.  

, and planning for the future.If you are financially in a strong place, I'd also encourage you to start looking at some deals to gain practice in analyzing to get ready to jump if anything juicy pops up.  

It's been a long time question for me whether or not I should continue replacing the water heaters and ensuring proper insulation in the attic, or if I should relocate with a tankless water heater downstairs. 

What is the best practice to pull money out of a paid-off rental, in efforts to buy another rental??

If you have consulted your attorney, and your attorney practices real estate law in your state and has reviewed your contract, then I would rely on his or her advice.