I have worked for ~10 years as a project manager on a wide variety of construction (institutional, hospital, hotels, student housing, commercial and multifamily).I am under contract on some land with a 90 day contingency/feasibility period, during which time I am rezoning a small parcel of land, completing architectural plans, acquiring building permits and securing financing.

Roads are wide, and sewer, water and power are in place.

Despite what may be said, LLCs are widely used and can and do protect landlords against law suits if they are set up correctly and operated well. 

For example, the operable area of the window must be at least 20"x24" and the sill height can't be higher than 44".Side note - IRC also requires bedrooms to be at least 70 sq. ft. and no less than 7' wide in any dimension, so make sure you're making the room big enough too :) Other things to think about when framing in a new room are light switch locations, adding wall outlets, and HVAC.JD also made a good point with the closet.

I just put it on here to try and cast the net as wide as possible. 

The market for another HOA manager in Charlottesville is wide open.

This is going to depend on a ton of factors A) Houston is a giant area with a wide spread of varying cost of real estate and you better know what is what because it can make or break your deals.

Its feels like herd mentality.I remember reading an article stating the times (world wide) are similar to the tensions prior to World War I.

Evidence of that growth abounds:Self-storage occupancy rates and rental rates in a number of U.S. markets reached record highs.Demand for self-storage keeps going up thanks to an array of trends, including the overall downsizing of baby boomers’ households, the general preference among millennials for renting apartments versus owning homes and the sustained mobility of American workers.Over time, self-storage has demonstrated that it’s a recession-resistant sector.In short, self-storage furnishes a wealth of reasons why acquiring an existing facility or building a new facility can open the roll-up door to attractive investment gains.Good luck!

Just go in with eyes wide open to the potential problems, educate yourself, and prepare.