Can anyone think of a good metric to gauge the proper measures for leverage?

mark..even though you asked in 2008 and now it is 2014... http://www.ministorageoutlet.com/ here is a site you can use if you cant click it just copy and past it.. it tells you the estimate of what a storage unit will cost you and it lets you pick all the measurements and stuff..not as much as you would guess.. my husband thought around 100-200,000 for a unit.. it was only 12,000 for 14 units and all the measurements i did

(measured by comparing Zestimates to actual sale prices).You can find it here, also linked off the home page:http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm

You discussed decor with them and their vision for how they'd decorate and helped them measure the rooms so they could pre-plan their furniture.And, still, boxes and boxes and boxes of stuff.  

Run all the good and bad scenarios on a spreadsheet.Be sure to have enough Management Reserve Measure all potential risk.

Measuring risk should be determined by the amount of equity in the properties.. 25K, 50K... 200K?  

Without measuring or surveying, a casual drive-by resulted in would-be bidders to conclude that they were buying two finished lots in a developed subdivision with an HOA. 

So they gave me a good measure on how long properties stayed on the market and what they were being sold for.

And 36 Other Key Financial Measures, Updated EditionAnd if you are interested in multi family:Larry LoftisInvesting in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate WealthLet me know if I can do anything else to help.

I think it's a good policy, not because I'm a GC and think people should be forced to use me but because it provides a measure of protection to the end buyer of the home that the work was performed by a licensed and duly qualified person.