At some point early on you will have to pull the trigger and have them do the work so they see that there is a symbiotic relationship.This used to be true, but nowadays you will just lose out on a lot of really good and talented GCs who are tired of being told - "hey take a look at this house for free and I'll give you a lot of work in the future....as long as you work for cheap".

But really all you have to do is notice the tenant that their rent is being moved closer to market rate.

There are options for no-seasoning DSCR cash-out refinances, rates may be slightly higher and you may need to have two appraisals done to verify market value if it is significantly higher than 110k.

-Rate buy down to as low as 3.99% to dramatically increase cash flow.-5% down payment credit where RTR pays 5% of your down payment allowing you to keep more of your funds for other investments and increase overall ROI.

Would the property taxes on this property be taxed at the residential rate?

You can pay them a competitive interest rate and you will retain full control of the building while you learn about managing rentals.

Plus if interest rates ever come back down into the 4s or 5s I'll refinance everything and be really happy!

Especially with the sub 4 percent rates last 20 years! 

You need to grow your portfolio to 10 plus in out of state investing on leverage to make anything decent at todays interest rates.

You would use a similar one to analyze SFH/MFH deals - except your self storage one will be a lot more in-depth - how many units, size per unit, rate per unit, unit mix etc.