Looking for some direction in how to value a brand new 120 unit  self-storage facility that is currently 30% occupied (over last 5 months). 

I want one to build one apartment complex and a self storage complex.

Then sell them or put them in storage for your next AC issue.

As far as the hot water tank, if it's already giving you problems it's really worth it to just go ahead and replace it. 

I have many questions but two that I would really like info on are:1) The previous owner turned their storage into a 1 bedroom 1 bath, we plan to rent it out also, is there anything we must do prior? 

There is also self-storage, office, industrial, warehouse, hotels, senior living, etc.

Vacancy 8% Repairs  8-10Capex 8-10 A lot depends on its current condition How old the roof water tanks plumbing hvac etc is 

People like storage space.

A 75 gallon tank should be adequate for 8 people total, and 50 gallons for 5.

I can budget for CapEx, but as far as the private utilities costing me money...the well is tested for $450 per month and the 7 septic tanks will need to be pumped every couple of years or so.